Average price of 5kg cooking gas stood at N4,562.51 in October- NBS

Wed, Nov 22, 2023
By editor
4 MIN READ

Economy

THE National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from N4,189.96 recorded in September to N4,562.51 in October.

This is contained in the Bureau’s “Cooking Gas Price Watch’’ for October 2023 released on Wednesday in Abuja.

The report said the October price represented an 8.89 per cent increase, compared to what was obtained in September.

The NBS said the average price of 5kg of cooking gas increased on a year-on-year basis by 1.76 per cent from N4,483.75 recorded in October 2022 to N4,562.51 in October 2023.

On state profile analysis, the report showed that Kano recorded the highest average price at N5,181.43 for 5kg cooking gas , followed by Adamawa at N5,142.86, and Ogun at N5,093.75.

It said on the other hand, Ebonyi recorded the lowest price at N3,971.43, followed by Osun and Edo at N4,000 and N4,025.00, respectively.

Analysis by zone showed that the North-West recorded the highest average retail price at N4,7382.20 for 5kg cooking gas, followed by the North-Central at N4,662.62.

“The South-East recorded the lowest average retail price at N4,088.65,” the NBS said.

Also, the NBS said the average retail price for refilling a 12.5kg cooking gas increased by 14.04 per cent on a month-on-month basis from N9,247.40 in September 2023 to N10,545.87 in October 2023.

The report said the average retail price for 12.5kg cooking gas rose by 4.93 per cent on a year-on-year basis from N10,050.53 recorded in October 2022 to N10,545.87 in October.

State profile analysis showed that Edo recorded the highest average retail price of N12,536.88 for 12.5kg cooking gas, followed by Jigawa at N12,050.00 and Delta at N11,987.50.

On the other hand, the report showed that the lowest average price for 12.5kg of cooking gas was recorded in Zamfara at N9,050.00, followed by Lagos and Oyo at N9,071.05 and N9,407.14, respectively.

The report said the South-East recorded the lowest price at N9,847.42.

Similarly, the average retail price per litre of kerosene rose to N1,303.16 in October 2023 on a month-on-month basis, showing an increase of 0.32 per cent, compared to the N1,299.03 recorded in September.

According to its National Kerosene Price Watch for October, on a year-on-year basis, the average retail price per litre of kerosene rose by 25.18 per cent from N1,041.05 in October 2022.

On state profile analysis, the report showed that Adamawa recorded the highest average price at N1,676.19 per litre of kerosene in October, followed by Abia at N1,555.21 and Abuja at N1,541.67.

“On the other hand, the lowest price was recorded in Kwara at N1,034.29, followed by Kebbi at N1,133.33 and Enugu at N1,134.52.”

The NBS said the analysis further showed that the South-East recorded the highest average retail price per litre of Kerosene at N1,404.49, followed by the North-West at N1,371.03.

It said the North-West recorded the lowest average retail price per litre of kerosene at N1,221.22.

The report said the average retail price per gallon of Kerosene paid by consumers in October 2023 was N4,581.89 indicating a 4.63 per cent increase from N4,379.31 recorded in September.

“On a year-on-year basis, the average price per gallon of kerosene increased by 30.28 per cent from N3,516.87 recorded in October 2022.

On state profile analysis, it showed that Taraba recorded the highest average retail price at N5,500 per gallon of kerosene, followed by Lagos at N5,484.38 and Adamawa at N5,214.29.

On the other hand, the report said Delta recorded the lowest price at N3,108.33, followed by Rivers and Ogun at N3,860.00 and N3,900.00, respectively.

Analysis by zone showed that the North-East recorded the highest average price per gallon of Kerosene at N5,096.83, followed by the North-West at N4,773.87.

“The South-South recorded the lowest average price per gallon of Kerosene at N4,017.76,” the NBS said.

NAN

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-Nov. 22, 2023 @ 11:48 GMT |

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