Average price of 5kg cooking gas stood at ₦4,562.51 in October - NBS

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% 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% from ₦4,483.75 recorded in October 2022 to ₦4,562.51 in October 2023. On state profile analysis, the report showed that Kano recorded the highest average price at ₦5,181.43 for 5kg cooking gas , followed by Adamawa at ₦5,142.86, and Ogun at ₦5,093.75.

It said on the other hand, Ebonyi recorded the lowest price at ₦3,971.43, followed by Osun and Edo at ₦4,000 and ₦4,025.00, respectively. Analysis by zone showed that the North-West recorded the highest average retail price at ₦4,7382.20 for 5kg cooking gas, followed by the North-Central at ₦4,662.62.

“The South-East recorded the lowest average retail price at ₦4,088.65,” the NBS said.

Also, the NBS said the average retail price for refilling a 12.5kg cooking gas increased by 14.04% on a month-on-month basis from ₦9,247.40 in September 2023 to ₦10,545.87 in October 2023. The report said the average retail price for 12.5kg cooking gas rose by 4.93% on a year-on-year basis from ₦10,050.53 recorded in October 2022 to ₦10,545.87 in October.

State profile analysis showed that Edo recorded the highest average retail price of ₦12,536.88 for 12.5kg cooking gas, followed by Jigawa at ₦12,050.00 and Delta at ₦11,987.50.

On the other hand, the report showed that the lowest average price for 12.5kg of cooking gas was recorded in Zamfara at ₦9,050.00, followed by Lagos and Oyo at ₦9,071.05 and ₦9,407.14, respectively. The report said the South-East recorded the lowest price at ₦9,847.42.

Similarly, the average retail price per litre of kerosene rose to ₦1,303.16 in October 2023 on a month-on-month basis, showing an increase of 0.32%, compared to the ₦1,299.03 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% from ₦1,041.05 in October 2022.

On state profile analysis, the report showed that Adamawa recorded the highest average price at ₦1,676.19 per litre of kerosene in October, followed by Abia at ₦1,555.21 and Abuja at ₦1,541.67.

“On the other hand, the lowest price was recorded in Kwara at ₦1,034.29, followed by Kebbi at ₦1,133.33 and Enugu at ₦1,134.52.”

The NBS said the analysis further showed that the South-East recorded the highest average retail price per litre of Kerosene at ₦1,404.49, followed by the North-West at ₦1,371.03. It said the North-West recorded the lowest average retail price per litre of kerosene at ₦1,221.22.

The report said the average retail price per gallon of Kerosene paid by consumers in October 2023 was ₦4,581.89 indicating a 4.63% increase from ₦4,379.31 recorded in September.

“On a year-on-year basis, the average price per gallon of kerosene increased by 30.28% from ₦3,516.87 recorded in October 2022.

On state profile analysis, it showed that Taraba recorded the highest average retail price at ₦5,500 per gallon of kerosene, followed by Lagos at ₦5,484.38 and Adamawa at ₦5,214.29.

On the other hand, the report said Delta recorded the lowest price at ₦3,108.33, followed by Rivers and Ogun at ₦3,860.00 and ₦3,900.00, respectively.

Analysis by zone showed that the North-East recorded the highest average price per gallon of Kerosene at ₦5,096.83, followed by the North-West at ₦4,773.87.

“The South-South recorded the lowest average price per gallon of Kerosene at ₦4,017.76,” the NBS said.