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Price Of Cooking Gas Increased 101% In One Year — NBS

NBS
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September 20, (THEWILL) – The average price of 5kg cooking gas increased from N4,397.68 in July to N4,456.56 in August, the National Bureau of Statistics (NBS), reported in its Cooking Gas Price Watch, issued on Tuesday in Abuja.

The Bureau noted that the price in August indicated 1.34 percent increase on a month-on-month basis from what was obtained in July.

“On a year-on-year basis, the August 2022 price was a 101.17 percent increase over the price of N2,215.33 paid for the same volume of gas in August 2021″, the NBS reported, adding that Taraba recorded the highest average price of N4,925.44, for 5kg cooking gas, followed by Adamawa, where it cost N4,920 and Lagos State, where it sold for N4,782.50.

The report noted that Katsina State recorded the lowest price of N4,020 in August, followed by Ogun and Yobe at N4,057.14 and N4,078.46, respectively.

Analysis by geo-political zones showed that the North-Central recorded the highest average retail price of N4,615.95 for 5kg cooking gas, followed by the North-East at N4,548.03.

The North-West recorded the lowest retail price at N4,285.51.

According to the report, the average retail price of 12.5kg cooking gas increased to 9,899.34 in August 2022 from N9,824.07 in July, representing a 0.77 percent month-on-month increase.

“On a year-on-year basis, the price rose by 119.26 percent from N4,514.82 in August 2021″, it stated, adding that the highest retail price was recorded in Ebonyi at N11,225 for 12.5kg, followed by Cross River at N10,982.14 and Delta at N10,965.42.

The lowest average price was recorded in Katsina State at N8,150, followed by Yobe and Taraba at N8,212.63 and N8,886.30, respectively.

Similarly, kerosene price rose to N809.52 per litre in August, showing a 2.5 percent increase over the N789.75 for which it was sold in July.

The report noted that on a year-on-year basis, the average retail price per litre of kerosene rose by 102.38 percent from N400.01 recorded in August 2021

Further analysis showed that the highest average price per litre of kerosene in August 2022 was recorded in Imo at N1,083.33, followed by Ekiti at N1,026.92 and Enugu State at N1,017.74.

The report showed that the lowest price was recorded in Nasarawa State at N625, followed by Rivers at N627.45 and Adamawa at N633.33.

Analysis by geo-political zones showed that the Southeast recorded the highest average retail price per litre at N953.88, followed by the Southwest with N910.85.

“The South-South recorded the lowest average price at N749.51,’’ it stated.

It added that the average retail price per gallon of kerosene in August was N2,947.65, showing an increase of 2.12 percent from N2,886.41 in July 2022.

According to the report, the August 2022 price was a 122.4 percent increase over the price of N1,325.39 paid in August 2021.

Analysis by states showed that Abuja paid the highest price of N4,050 per gallon of kerosene in August, followed by Abia where it sold at N3,825 and Enugu State at N3,574.52.

Zamfara recorded the lowest price at N2,280 for a gallon of kerosene followed by Lagos State and Benue where it sold at N2,526.32 and N2,566.67, respectively.

The NBS stated that analysis by geopolitical zones showed that the Southeast recorded the highest average retail price per gallon of kerosene at N3,276.78, followed by the Southwest at N3,073.27.

It added that the Northeast recorded the lowest average retail price at N2,687.63 per gallon.