Fakoyejo Olalekan
The National Bureau of Statistics (NBS) has disclosed that the average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas, popularly known as cooking gas, fell to N4,360.69 in May 2023.
This is a 6.07 per cent month-on-month decline compared to the N4,642.27 reported by the bureau in April 2023, but it’s an increase of 11.20 per cent on a year-on-year basis, considering the price of cooking gas at 5kg was N3,921.35 in May 2022.
Join our WhatsApp ChannelAccording to the NBS in its recently released Liquefied Petroleum Gas (Cooking Gas) Price Watch for May, the highest price of 5kg cooking gas was recorded in Bayelsa, where it was sold at N5,016.67.
Also on the list is Zamfara, where cooking gas was sold at an average price of N5,000 but went on sale at the cost of N4,900 in Abuja. However, the lowest price was recorded in Ondo State at N3,795.83, Nasarawa was pegged at N3,800 and Edo posted N3,837.14.
NBS further noted that the North-Central recorded the highest average retail price for refilling a 5kg cooking gas with N4,712.85.
The same product size was sold at N4,550.04 in the North-West, while the South-East recorded the lowest with N4,078.50.
Also, the average price of 12.5kg cooking gas was placed at N9,537.89 last month, which is a 7.61 per cent decline on a month-on-month basis from N10,323.33 posted in April this year.
Although the 12.5kg increased by 9.30 per cent, as the cooking gas price for this size was N8,726.30 during the corresponding period in May last year.
The report disclosed that Cross River, Jigawa and Akwa Ibom were the states where cooking gas for 12.5kg was sold the highest, while Adamawa, Zamfara and Borno recorded the lowest prices.
On a regional level, South-South and the South-West reported the highest prices for 12.5kg cooking gas, above that of the North-East, where residents bought the product at the lowest price.
“On State profile analysis, Cross River recorded the highest average retail price for the refilling of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N11,083.33, followed by Jigawa with N10,975.00 and Akwa Ibom with N10,174.29,” NBS reported.
“Conversely, the lowest average price was recorded in Adamawa with N7,925.00, followed by Zamfara and Borno with N8,128.57 and N8,200.00 respectively.
“Analysis by zone showed that the South-South recorded the highest average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N10,042.60, followed by the South-West with N9,616.89, while the North-East recorded the lowest price with N8,908.30,” the bureau added.
