Cooking gas price soar high by 27% in one year – NBS

The National Bureau of Statistics (NBS), says the average price of 5kg of cooking gas increased from N3,594.81 in December 2021 to N4,565.56 in December 2022.

This is contained in the Bureau’s “Cooking Gas Price Watch’’ for December 2022 released on Friday in Abuja.

The report said the December 2022 price represented a 27 per cent increase compared to what was obtained in December 2021.

The report said on a month-on-month basis, the price rose by 0.36 per cent from N4,549.14 recorded in November 2022 to N4,565.56 in December 2022.

On state profile analysis, the report showed that Kwara recorded the highest average price of N4,950.00 for refilling of a 5kg cooking gas, followed by Adamawa at N4,933.33, and Plateau at N4,917.50.

It said on the other hand, Anambra recorded the lowest price at N4,182.14, followed by Abia and Rivers with N4,196.15 and N4,207.27, respectively.

Analysis by zone showed that the North-Central recorded the highest average retail price of N4,841.07 for 5kg cooking gas, followed by the North-East at N4,593.99.

“The South-East recorded the lowest average price at N4,386.39.for 5kg cooking gas.’’

The NBS also said the average retail price for refilling a 12.5kg cooking gas rose by 0.67 per cent on a month-on-month basis from N10,180.88 in November 2022 to N10,248.97 in December 2022.

“On a year-on-year basis, this rose by 39.78 per cent from N7,332.04 in December 2021.’’

State profile analysis showed that Benue recorded the highest average retail price of N11,250.00 for 12.5kg cooking gas, followed by Cross River at N10,892.86 and Ebonyi at N10,753.57.

On the other hand, the report showed that the lowest average price for 12.5kg of cooking gas was recorded in Yobe at N9,500.00, followed by Zamfara and Gombe with N9,706.25 and N9,750.00, respectively.

Similarly, the average retail price per litre of kerosene rose to N1,104.61 in December 2022 on a month-on-month basis, showing an increase of 1.94 per cent compared to N1,083.57 recorded in November 2022.

According to its National Kerosene Price Watch for December 2022, on a year-on-year basis, the average retail price per litre of kerosene rose by 136.04 per cent from N467.97 in December 2021 to N1,104.61 in December 2022.

Analysis by state showed that the highest average retail price per litre of kerosene was recorded in Abuja at N1,383, followed by Akwa Ibom at N1,341 and Cross River at N1,300.

“On the other hand, the lowest price was recorded in Bayelsa at N864, followed by Jigawa at N904 and Rivers at N916.’’

The NBS said that analysis by zones showed that the South-East recorded the highest average retail price of kerosene at N1,203 per litre, followed by the South-West at N1,177, while the North-West recorded the lowest at N1,011.

The report showed that the average price of a gallon of kerosene was sold at N3,753 in December 2022, indicating an increase of 4.42 per cent from N3,594 in November 2022.

“On a year-on-year basis, this increased by 137.15 per cent from N1,582.73 in December 2021.’’

State profile analysis showed that Abia recorded the highest average retail price per gallon of kerosene at N4,546, followed by Kwara at N4,515 and Enugu at N4,426.

It said Borno recorded the lowest price at N2,750, followed by Gombe and Bayelsa at N2,775 and N2,814, respectively.

Analysis by the report indicated that the South-East recorded the highest average retail price per gallon of Kerosene at N4,337, followed by the North-Central at N3,967, while the North-East recorded the lowest at N3,378.