Price of 5kg cooking gas rises to N6,430 in August – NBS

The average price of 5kg cooking gas increased from N5,974.55 recorded in July to N6,430.02 last month.

This was disclosed by the Central Bureau of Statistics (BPS) in its August 2024 “Cooking Gas Price Monitor” released on Sunday in Abuja.

The report said August prices showed an increase of 7.62 percent compared to the prices obtained in July.

The NBS further revealed that the average price of 5kg cooking gas increased year-on-year by 56.25 per cent from N4,115.32 in August 2023 to N6,430.02 in August this year.

In the state profile analysis, Benue and Sokoto recorded the highest average price for refilling a 5kg Liquefied Petroleum Gas Cylinder (Cooking Gas) at N7,000.00, followed by Rivers at N6,954.55, and Borno at N6,914.29.

On the other hand, Taraba recorded the lowest price with N5,600.67, followed by Abuja and Kogi with N5,825.00 and N5,857.56 respectively.

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Analysis by zones shows that the South-East region recorded the highest average retail price for refilling a 5kg Liquefied Petroleum Gas Cylinder (Cooking Gas) at N6,585.18, followed by the South-South region at N6,451.34 while the North-Central region recorded the lowest price at N6,344.29.

In addition, the average retail price for refilling a 12.5kg Liquefied Petroleum Gas Cylinder (Cooking Gas) increased by 9.05% month-on-month from N14,261.57 in July to N15,552.56 in August. Year-on-year, it increased by 69.15% from N9,194.41 in August 2023.

In the state profile analysis, Rivers recorded the highest average retail price for refilling a 12.5kg Liquefied Petroleum Gas Cylinder (Cooking Gas) at N17,086.36 followed by Cross River at N17,050.00 and Abia at N17,012.52.

On the other hand, the lowest average price was recorded in Bauchi at N13,425.00, followed by Nassarawa and Adamawa at N13,640.94 and N13,725.00 respectively.

Analysis by zones shows that the South-South region recorded the highest average retail price for refilling a 12.5kg Liquefied Petroleum Gas Cylinder (Cooking Gas) at N16,524.00, followed by the South-East region at N16,495.78 while the North-Central region recorded the lowest price at N14,767.41.

By: Babajide Okeowo

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