Thursday, December 8, 2022

New NBS report shows cost of 12.5kg cooking gas increased by 103.5% in one year

This is contained in the NBS Liquefied Petroleum Gas (Cooking Gas) Price Watch for May 2022 released in Abuja on Sunday.

• June 19, 2022
Gas cylinders
Gas cylinders used to Illustrate the story

Cost of filling a 12.5 kg cylinder of cooking gas, commonly used in most Nigerian homes, jumped by 103.46 per cent year-on-year, a new report by the National Bureau of Statistics (NBS) says.

The report said the average price for refilling a 12.5kg cylinder of cooking gas increased to N8,726.30 in May 2022 from N8,164.37 in April 2022, representing a 6.88 per cent month-on-month increase.

“Similarly, on a year-on-year basis, the average retail price for refilling a 12.5kg cooking gas increased by 103.46 per cent from N4,288.95 in May 2021,” it said.

The NBS Liquefied Petroleum Gas (Cooking Gas) Price Watch for May 2022 was released in Abuja on Sunday.

The report said the state comparisons showed that the highest average retail price for the refilling of a 12.5kg cylinder of cooking gas was recorded in Abuja at N9,308.00, followed by Ekiti at N9,209.09 and Oyo, at N9,184.06.

However, the lowest average price for the refilling of a 12.5kg cylinder of cooking gas was recorded in Yobe with N7,500.00, followed by Kano State and Kogi at N8,175.00 and N8,200.00, respectively.

The report showed that the average retail price for refilling a 12.5kg cylinder of cooking gas was highest in the South-West at N8,916.10.

“This was followed by the South-East and South-South at N8,885.54 and N8,857.09, respectively.”

The report said the North-East Zone recorded the lowest price at N8,423.44. 

Meanwhile, the average price of refilling a 5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) increased to N3,921.35 in May 2022.

The NBS said refilling the cylinder used to cost N3,800.47 in April 2022, adding that the increase indicated a 3.18 per cent month-on-month increase.

However, on a year-on-year basis, the average retail price of cooking gas increased by 89.28 per cent from N2,071.69 in May 2021.

The report showed that the highest average price for refilling a 5kg cylinder of cooking gas was recorded in Gombe at N4,366.67, followed by Bayelsa at N4,325.00 and Adamawa at N4,250.00.

On the other hand, it said Yobe recorded the lowest average price with N3,200.00, followed by Ogun and Ondo with N3,450.00 and N3,480.77, respectively.

The report showed that the average retail price for refilling a 5kg cylinder of cooking gas was highest in the South-East at N4,094.39 followed by the North-Central at N3,989.98 and South-South at N3,977.72.

“While the South-West recorded the lowest average retail price of N3,719.53,” said the statement.

(NAN)

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