Average Price Of 5kg Cooking Gas Stood At N6,591.62 In March- NBS

Posted by African Examiner Business News, Latest Headlines Saturday, April 20th, 2024

(AFRICAN EXAMINER) – The National Bureau of Statistics (NBS), says the average price of 5kg cooking gas increased from N6,154.50 recorded in February 2024 to N6,591.62 in March 2024.

This is contained in the Bureau’s “Cooking Gas Price Watch’’ for March 2024 released on Friday in Abuja.

The report said the March price represented a 7.10 per cent increase, compared to what was obtained in February 2024.

The NBS said the average price of 5kg of cooking gas increased on a year-on-year basis by 42.97 per cent from N4,610.48 recorded in March 2023 to N6,591.62 in March 2024.

On state profile analysis, the report showed that Kano recorded the highest average price at N7,609.00, followed by Ogun at N7,363.64, and Akwa Ibom at N7,162.50

It said on the other hand, Adamawa recorded the lowest price at N5,312.50, followed by Taraba and Zamfara at N5,375.00 and N5,550.00, respectively.

Analysis by zone showed that the South-South recorded the highest average retail price at N7,003.08, followed by the South-West at N6,723.22.

“The North-East recorded the lowest average retail price at N6,221.30,” the NBS said.

Also, the NBS said the average retail price for refilling a 12.5kg cooking gas increased by 5.77 per cent on a month-on-month basis from N15,060.38 in February 2024 to N15,929.04 in March 2024.

The report said the average retail price for 12.5kg cooking gas rose by 55.22 per cent on a year-on-year basis from N10,262.56 recorded in March 2023 to N15,929.04 in March 2024.

State profile analysis showed that Sokoto recorded the highest average retail price of N17,833.33 for 12.5kg cooking gas, followed by Osun at N17,588.46 and Anambra at N17,417.65.

On the other hand, the report showed that the lowest average price was recorded in Katsina at N12,400.00, followed by Kebbi and Bauchi at N13,137.50 and N14,484.25, respectively.

Analysis by zone showed that the South-South recorded the highest average retail price at N16,859.85, followed by the South-East at N16,734.87.

The report said the North-East recorded the lowest price at N14,943.48. (NAN)