Price hikes for cooking gas by 101 percent in a year
5 kg of Cooking Gas now cost, on average, N4,456.56 in August compared to N4,397.68 in July. The National Bureau of Statistics (NBS) stated this in its Cooking Gas Price Watch, which was published on Tuesday in Abuja.
It was mentioned that the price in August showed a 1.34 percent month-over-month increase from what was obtained in July.
According to the report, the price in August 2022 increased by 101.17 percent over the price of N2,215.33 paid for the same amount of gas in August 2021.
According to the report, Taraba had the highest average price for 5 kg of cooking gas at N4,925.44. Adamawa came in second at N4,920, and Lagos State had the highest average price at N4,782.50.
It also noted that Katsina State had the lowest pricing in August ($4,020), followed by Ogun ($4,057.14) and Yobe ($4,078.46), respectively.
Following the North-East, which had the second-highest average retail price for 5 kg of cooking gas at N4,548.03, according to an analysis by geopolitical zones, was the North-Central.
The lowest retail price was N4,285.51 in the North-West.
The average retail price of 12.5 kg of cooking gas grew by 0.77 percent month over month, from N9,824.07 in July to 9,899.34 in August 2022, according to the NBS.
It read, “On an annual basis, the price increased by 119.26% from N4,514.82 in August 2021.
According to the research, the highest retail price for 12.5kg was N11,225 in Ebonyi, followed by N10,982.14 in Cross River and N10,965.42 in Delta.
Katsina State had the lowest average price, N8,150, followed by Yobe and Taraba, N8,212.63 and N8,886.30, respectively.
Similar to this, the price of kerosene increased to N809.52 a litre in August, representing a 2.5% rise over the N789.75 it was sold for in July.
According to the research, the average retail price for a litre of kerosene increased by 102.38 percent from N400.01 in August 2021.
According to additional analysis, Imo had the highest average price per litre of kerosene in August 2022, at N1083.33, followed by Ekiti and Enugu State, both at N1,026.92 and N1,017.74.
According to the research, Nasarawa State had the lowest price at N625, followed by Rivers at N627.45 and Adamawa at N633.33.
According to a geopolitical analysis, the Southeast and Southwest both had the highest average retail prices per liter, at N953.88 and N910.85, respectively.
The lowest average price was N749.51 in the South-South, it said.
The average retail price of a gallon of kerosene in August was N2,947.65, up 2.12% from N2,886.41 in July 2022, it was further stated.
The price in August 2022, according to the data, increased by 122.4% from the N1,325.39 paid in August 2021.
Kerosene was priced at N4,050 a gallon in Abuja in August, N3,825 in Abia, and N3,574.52 in Enugu State, according to a state-by-state analysis.
Kerosene was sold for the least amount in Zamfara at N2,280 per gallon, followed by Lagos State and Benue at N2,526.32 and N2,566.67, respectively.
The Southeast reported the highest average retail price per gallon of kerosene at N3,276.78, according to the NBS, which was followed by the Southwest at N3,073.27.
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