Cooking gas price increases by 0.21% in October 2022 — NBS

Average price of 5kg cooking gas rose by 0.21 per cent from N4,474.48 in September to N4,483.75 in October.

The increased price is contained in the National Bureau of Statistics (NBS) ‘Cooking Gas Price Watch’ for October 2022 issued on Monday in Abuja.

It said stated that on a year-on-year basis, the increase was 70.62 per cent from N2,627.94 in October 2021 to N4,483.75 in October 2022.

On state profile analysis, the report showed that Kwara recorded the highest average price at N4,955 for 5kg of cooking gas, followed by Niger at N4,950 and Adamawa at N4,940.29.

It stated that Abia recorded the lowest price at N4,045.45, followed by Kano and Delta at N4,100 and N4,139.29, respectively.

Analysis by geopolitical zones showed that the North-Central recorded the highest average retail price at N4,726.07 for 5kg cooking gas, followed by the Northeast at N4,577.86.

“The South-South recorded the lowest average retail price at N4,275.92,” the NBS stated.

The report showed that the average retail price of 12.5kg cooking gas increased from N9,906.44 in September to N10,050.53 in October, indicating a 1.45 per cent increase on a month-on-month basis.

“On a year-on-year basis, this showed an increase of 51.4 per cent from N6,638.27 in October 2021 to N10,050.53 in October 2022,” it added.

State profile analysis showed that Cross River recorded the highest average retail price at N10,986.11 for 12.5kg cooking gas, followed by Oyo State at N10,826.56 and Kogi at N10,783.33.

It said the lowest average price was recorded in Yobe at N8,533.33, followed by Sokoto and Katsina at N9,100.00 and N9,202.86, respectively.