The average price of 5kg of cooking gas increased from N5,974.55 recorded in July to N6,430.02 last month.
The National Bureau of Statistics (NBS) disclosed this in it “Cooking Gas Price Watch” for August 2024 released on Sunday in Abuja.
The report said the August price represented a 7.62 percent increase compared to what was obtained in July.
The NBS further disclosed that the average price of 5kg of cooking gas increased on a year-on-year basis by 56.25 percent from N4,115.32 in August 2023 to N6,430.02 in August this year.
On state profile analysis, Benue and Sokoto recorded the highest average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N7,000.00, followed by Rivers with N6,954.55, and Borno with N6,914.29.
On the other hand, Taraba recorded the lowest price with N5,600.67, followed by Abuja and Kogi with N5,825.00 and N5,857.56 respectively.
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Analysis by zone showed that the South-East recorded the highest average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N6,585.18, followed by the South-South with N6,451.34 while the North-Central recorded the lowest with N6,344.29.
Also, the average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 9.05% on a month-on-month basis from N14,261.57 in July to N15,552.56 in August.On a year-on-year basis, this rose by 69.15% from N9,194.41 in August 2023.
On state profile analysis, Rivers recorded the highest average retail price for the refilling of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N17,086.36 followed by Cross River with N17,050.00 and Abia with N17,012.52.
Conversely, the lowest average price was recorded in Bauchi with N13,425.00, followed by Nassarawa and Adamawa with N13,640.94 and N13,725.00 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 N16,524.00, followed by the South-East with N16,495.78 while the North-Central recorded the lowest price with N14,767.41.
By: Babajide Okeowo
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