Average price of 5kg cooking gas stood at N4,115.32 in August – NBS

The National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from N4,072.87 recorded in July to N4,115.32 in August 2023.

This is contained in the Bureau’s “Cooking Gas Price Watch’’ for August 2023, released on Monday in Abuja.

The report said the August 2023 price represented a 1.04 percent increase compared to what was obtained in July 2023.

However, the average price of 5kg of cooking gas decreased on a year-on-year basis by 7.66 percent, from N4,456 recorded in August 2022 to N4,115.32 in August 2023.

On state profile analysis, the report showed that Kwara recorded the highest average price at N4,816.67 for 5 kg of cooking gas, followed by Benue at N4,766.67 and Zamfara at N4,756.25.

On the other hand, Ondo recorded the lowest price at N3,299.29, followed by Ekiti and Nasarawa at N3,330.00 and N3,533.33, respectively.

Analysis by zone showed that the North-Central recorded the highest average retail price at N4,501.26, followed by the North-West at N4,340.50

“The South-West recorded the lowest retail price at N3,3737.12,” the NBS said.

Also, the NBS said the average retail price for 12.5 kg of cooking gas increased by 0.35 percent on a month-on-month basis, from N9,162.11 in July 2023 to N9,194.41 in August 2023.

However, the report said the average price of 12.5 kg of cooking gas dropped by 7.12 percent on a year-on-year basis, from N9,899.34 recorded in August 2022 to N9,194.41 in August 2023.

On state profile analysis, it showed that Cross River recorded the highest average price at N10,172.83 for 12.5 kg of cooking gas, followed by Ogun at N9,963.64 and Nasarawa at N9,883.37.

On the other hand, the report showed that Adamawa recorded the lowest price at N7,597.92, followed by Borno at N8,103.69, and Gombe at N8,173.44.

Analysis by zone showed that the South-South recorded the highest average retail price at N9,569.58 for 12.5kg, followed by the South-West at N9,344.17.

The report said the North-East recorded the lowest price at N8,631.95.

Similarly, the average retail price per litre of kerosene rose to N1,272.40 in August 2023 on a month-on-month basis, showing an increase of 0.92 percent compared to N1,260.81 recorded in July 2023.

According to its National Kerosene Price Watch for August 2023, on a year-on-year basis, the average retail price per litre of kerosene rose by 57.18 percent from N809.52 in August 2022.

On state profile analysis, the report showed that Adamawa recorded the highest average price of N1,745.83 per litre of kerosene in August 2023, followed by Benue at N1,468.33 and Abuja at N1,486.89.

“On the other hand, Jigawa recorded the lowest price at N1,000, followed by Edo at N1,104.78 and Kaduna at N1,121.79.”

The NBS said the analysis further showed that the North-East recorded the highest average retail price per litre of kerosene at N1,370.64, followed by the South-East at N1,332.49.

It said the North-West recorded the lowest average retail price per litre of kerosene at N1,163.25.

The report said the average retail price per gallon of kerosene paid by consumers in August 2023 was N4,351.53, indicating a 1.06 percent increase from N4,306.07 in July 2023.

“On a year-on-year basis, the average price per gallon of kerosene increased by 47.63 percent from N2,947.65 recorded in August 2022.”

On state profile analysis, it showed that Lagos recorded the highest average price at N5,350.83 per gallon of kerosene, followed by Katsina at N4,991.85 and Borno at N4,897.47.

On the other hand, the report said Delta recorded the lowest price at N2,945.71, followed by Rivers and Oyo at N3,287.50 and N3,711.79, respectively.

Analysis by zone showed that the North-East recorded the highest average price per gallon of kerosene at N4,637.71, followed by the South-East at N4,590.69.

The report said the South-South recorded the lowest average price per gallon of kerosene at N3,727.30.