Connect with us

Economy

Price of Cooking Gas Skyrockets by 86.6% in 12 Months

Published

on

Price of Cooking Gas

Latest data released by the National Bureau of Statistics has revealed that the average price of cooking gas in the country rose significantly by 86.62% between September 2021 and September 2022.

The data showed that average retail price for refilling a 5kg Cylinder of cooking gas that used to cost N2,397.60 in September 2021 sold for N4,474.48 in September, this year.

The rise in the prices of cooking gas has been steadily contributing to inflation in the country which again hit 17-year high at 20.77% in September . The price in September also increased marginally by 0.40% month-on-month.

According to the NBS data, state profile analysis indicated that Kwara recorded the highest average price for refilling a 5kg Cylinder of Cooking Gas also known as Liquefied Petroleum Gas with N4,950.00, followed by Niger with N4,941.67, and Adamawa with N4,928.29.

“On the other hand, Abia recorded the lowest price with N4,044.44, followed by Anambra and Kano with N4,100.00 and N4,109.67 respectively,” the report showed.

In addition, analysis by zone showed that the North-Central recorded the highest average retail price for refilling a 5kg Cylinder of cooking gas with N4,715.74, followed by the North-East with N4,539.41, while the South-South recorded the lowest with N4,317.92.

Meanwhile, the average retail price for refilling a 12.5kg cylinder of cooking gas increased by 0.07% on a month-on-month basis from N9,899.34 in August 2022 to N9,906.44 in September 2022.

On a year-on-year basis, this rose by 60.69% from N6,164.97 in September 2021, NBS said.

Bringing this to the state level, Cross River recorded the highest average retail price for the refilling of a 12.5kg Cylinder with N10,937.50, followed by Kogi with N10,760.00 and Oyo with N10,723.75.

“Conversely, the lowest average price was recorded in Yobe with N8,350.00, followed by Katsina and Taraba with N8,545.56 and N9,025.78 respectively.

Analysis by zone showed that the South-West recorded the highest average retail price for refilling a 12.5kg Cylinder of Cooking Gas with N10,320.44, followed by the South -South with N10,202.15, while the North-East recorded the lowest price with N9,300.41.

Click to comment

Leave a Reply

Your email address will not be published.

Advertisement Enter ad code here
mebookshelfandi