Price of cooking gas rises by 70.62% in one year

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Price of cooking gas rises by 70.62% in one year

The National Bureau of Statistics (NBS) has revealed that the average price of refilling a five kilogramme (5kg) cylinder of cooking gas rose by 70.62 per cent year on year in October.

In its latest “Liquefied Petroleum Gas (Cooking Gas) Price Watch” report for October 2022 published on Sunday, NBS noted that the average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 0.21% on a month-on-month basis from N4,474.48 recorded in September 2022 to N4,483.75 in October 2022.

While on a year-on-year basis, this rose by 70.62% from N2, 627.94 when compared between October 2021 and October 2022.

On state profile analysis, Kwara recorded the highest average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N4,955.00, followed by Niger with N4,950.00, and Adamawa with N4,940.29.

On the other hand, Abia recorded the lowest price with N4,045.45, followed by Kano and Delta with N4,100.00 and N4,139.29 respectively.

In addition, analysis by zone showed that the North-Central recorded the highest average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N4,726.07, followed by the North-East with N4,577.86, while the South-South recorded the lowest with N4,275.92.

Also, the average retail price for refilling a 12.5kg Cylinder of cooking gas increased by 1.45% on a month-on-month basis from N9,906.44 in September 2022 to N10,050.53 in October 2022.

On a year-on-year basis, this rose by 51.40% from N6,638.27 in October 2021.

On state profile analysis, Cross River recorded the highest average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N10,986.11, followed by Oyo with N10,826.56 and Kogi with N10,783.33.

Conversely, the lowest average price was recorded in Yobe with N8,533.33, followed by Sokoto and Katsina with N9,100.00 and N9,202.86 respectively.