Cooking Gas Price Increased By 24.05% In One Year – NBS

Posted by African Examiner Business News, Latest Headlines Saturday, March 25th, 2023

(AFRICAN EXAMINER) – The National Bureau of Statistics (NBS), says the average price of 5kg of cooking gas increased from N3,708.58 in February 2022 to N4,600.57 in February 2023.

This is contained in the Bureau’s “Cooking Gas Price Watch’’ for February 2023 released on Friday in Abuja.

The report said the February price represented a 24.05 per cent increase compared to what was obtained in February 2022.

The report said on a month-on-month basis, the price rose by 0.26 per cent from N4,588.75 recorded in January 2023 to N4,600.57 in February 2023.

On state profile analysis, the report showed that Kwara recorded the highest average price of N4,962.86 for refilling of a 5kg cooking gas, followed by Adamawa at N4,914.00, and Niger at N4,907.50.

It said on the other hand, Enugu recorded the lowest price at N4,179.41, followed by Rivers and Abia at N4,204.44 and N4,220.00.

Analysis by zone showed that the North-Central recorded the highest average retail price of N4,845.44 for 5kg cooking gas , followed by the North-West at N4,629.19.

“The South-East recorded the lowest average price at N4,428.97 for 5kg cooking gas.’’

The NBS also said the average retail price for refilling a 12.5kg cooking gas declined by 0.23 per cent on a month-on-month basis from N10,277.17 in January 2023 to N10,253.39 in February 2023.

“On a year-on-year basis, this rose by 37.67 per cent from N7,447.79 in February 2022.’’

State profile analysis showed that Akwa Ibom recorded the highest average retail price of N10,879.50 for 12.5kg cooking gas followed by Cross River at N10,803.57 and Anambra at N10,768.75.

On the other hand, the report showed that the lowest average price for 12.5kg of cooking gas was recorded in Yobe at N9,580.00, followed by Gombe and Borno at N9,766.67 and N9,857.14, respectively.

Analysis by zone showed that the South-South recorded the highest average retail price for refilling a 12.5kg cooking gas at N10,590.18, followed by the South-East at N10,478.54.

“The North-East recorded the lowest price at N9,801.46.’’

Similarly, the average retail price per litre of kerosene rose to N1,173.89 in February 2023 on a month-on-month basis, showing an increase of 1.78 per cent compared to N1,153.40 recorded in January 2023.

According to its National Kerosene Price Watch for February 2023, on a year-on-year basis, the average retail price per litre of kerosene rose by 160.48 per cent from N450.66 in February 2022 to N1,173.89 in February 2023.

Analysis by state showed that the highest average retail price per litre of kerosene was recorded in Plateau at N1,550.00, followed by Abuja at N1,473.33 and Adamawa at N1,438.10.

“On the other hand, the lowest price was recorded in Nassarawa at N923.81, followed by Katsina at N945.83 and Sokoto at N956.94.’’

The NBS said that analysis by zones showed that the South-West recorded the highest average retail price of Kerosene at N1,259.96 per litre, followed by the South-East at N1,255.12, while the North-West recorded the lowest at N976.24.’’

The report showed that the average price of a gallon of kerosene was sold at N3,926.23 in February 2023, indicating an increase of 1.03 per cent from N3,886.11 in January 2023.

“On a year-on-year basis, this increased by 151.72 per cent from N1,559.78 in February 2022.’’

State profile analysis showed that Kwara recorded the highest average retail price per gallon of kerosene at N4,905.83, followed by Ebonyi at N4,606.25 and Anambra at N4,550.00.

It said Borno and Gombe recorded the lowest price at N3,050.00, followed by Bayelsa and Delta at N3,071.43 and N3,116.67, respectively.

Analysis by zone indicated that the South-East recorded the highest average retail price per gallon of kerosene at N4,517.60, followed by the North Central at N4,107.59, while the South South recorded the lowest at N3,474.47.(NAN)