Business

June 21, 2024

Cooking gas price rises by 70.12% in May — NBS

cooking gas

gas

By Shalom Uzochukwu

The average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (LPG), commonly known as cooking gas rose by 70.12 per cent, Year-on-Year, YoY to N7,418.45 in May 2024 from N4,360.69 in May 2023.

The National Bureau of Statistics (NBS) disclosed this in its Liquified Petroleum Gas (Cooking Gas) Price Watch for May 2024.

The report also revealed that on a month-on-month (MoM) basis, the price rose by 13.75 per cent from N6,521.58 in April 2024.

The NBS said: “On state profile analysis in May 2024, Benue recorded the highest average price for refilling a 5kg LPG cylinder at N8,012.03, followed by Enugu at N7,926.21 and Ondo at N7,857.53. Yobe had the lowest price at N5,842.31, with Jigawa and Katsina trailing at N6,521.81 and N6,567.95, respectively.

“Regionally, the South-East had the highest average price for a 5kg refill at N7,680.87, followed by the South-West at N6,593.93, while the North-East had the lowest at N7,071.84.”

The report also stated that the average retail price for refilling a 12.5kg LPG cylinder on a year-on-year basis, rose by 63.85 per cent to N15,627.40 in May 2024 from N9,537.89 in May 2023.

However, on a month-on-month (MoM) basis, the price declined by 0.07 per cent to N15,627.40 in May 2024 from N15,637.74 in April 2024.

Zamfara reported the highest average price for refilling a 12.5kg LPG cylinder at N18,369.33, followed by Bayelsa at N17,772.21 and Abia at N17,538.02.

The lowest prices were found in Bauchi at N13,076.43, Ebonyi at N13,788.09, and Taraba at N13,860.31.

The South-South region recorded the highest average price for a 12.5kg refill at N16,310.02, followed by the North-West at N15,991.13, while the North-East had the lowest at N15,010.62.