Average price of 5kg cooking gas at ₦4,115.32 in August - NBS
According to reports, August 2023 price represented a 1.04 increase, compared to what was obtained in July 2023.
Cooking gas (Credit: Google)
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![Aliko Dangote's refinery project has the capacity to produce 650,000 barrels per day. [Nairametrics]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Aliko Dangote's refinery project has the capacity to produce 650,000 barrels per day. [Nairametrics]")
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 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% from ₦4,456 recorded in August 2022 to ₦4,115.32 in August 2023.
On state profile analysis, the report showed that Kwara recorded the highest average price at ₦4,816.67 for 5kg cooking gas, followed by Benue at ₦4,766.67, and Zamfara at ₦4,756.25. It said on the other hand, Ondo recorded the lowest price at N3,299.29, followed by Ekiti and Nasarawa at ₦3,330.00 and ₦3,533.33 respectively.
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Analysis by zone showed that the North-Central recorded the highest average retail price at ₦4,501.26, followed by the North-West at ₦4,340.50
“The South-West recorded the lowest retail price at ₦3,3737.12,” the NBS said.
Also, the NBS said the average retail price for 12.5kg cooking gas increased by 0.35% on a month-on-month basis, from ₦9,162.11 in July 2023 to ₦9,194.41 in August 2023.
However, the report said the average price of 12.5kg cooking gas dropped by 7.12% on a year-on-year basis, from ₦9,899.34 recorded in August 2022 to ₦9,194.41 in August 2023. On state profile analysis, it showed that Cross River recorded the highest average price at ₦10,172.83 for 12.5kg cooking gas, followed by Ogun at ₦9,963.64 and Nasarawa at ₦9,883.37.
On the other hand, the report showed that Adamawa recorded the lowest price at ₦7,597.92, followed by Borno at ₦8,103.69 and Gombe at ₦8,173.44. Analysis by zone showed that the South-South recorded the highest average retail price at ₦9,569.58 for 12.5kg, followed by the South-West at ₦9,344.17.
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The report said the North-East recorded the lowest price at ₦8,631.95. Similarly, the average retail price per litre of Kerosene rose to ₦1,272.40 in August 2023 on a month-on-month basis, showing an increase of 0.92%, compared to ₦1,260.81 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% from ₦809.52 in August 2022.
On state profile analysis, the report showed that Adamawa recorded the highest average price at ₦1,745.83 per litre of kerosene in August 2023, followed by Benue at ₦1,468.33 and Abuja at ₦1,486.89.
“On the other hand, Jigawa recorded the lowest price at ₦1,000 followed by Edo at ₦1,104.78 and Kaduna at ₦1,121.79.”
The NBS said the analysis further showed that the North-East recorded the highest average retail price per litre of kerosene at ₦1,370.64, followed by the South-East at ₦1,332.49. It said the North-West recorded the lowest average retail price per litre of kerosene at ₦1,163.25.
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The report said the average retail price per gallon of kerosene paid by consumers in August 2023 was ₦4,351.53, indicating a 1.06 per cent increase from ₦4,306.07 in July 2023.
“On a year-on-year basis, the average price per gallon of kerosene increased by 47.63% from ₦2,947.65 recorded in August 2022.”
On state profile analysis, it showed that Lagos recorded the highest average price at ₦5,350.83 per gallon of kerosene, followed by Katsina at ₦4,991.85 and Borno at ₦4,897.47. On the other hand, the report said Delta recorded the lowest price at ₦2,945.71, followed by Rivers and Oyo at ₦3,287.50 and ₦3,711.79, respectively.
Analysis by zone showed that the North-East recorded the highest average price per gallon of Kerosene at ₦4,637.71, followed by the South-East at ₦4,590.69. The report said the South-South recorded the lowest average price per gallon of Kerosene at ₦3,727.30.
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