Abuja, Sept. 22, 2024 — The National Bureau of Statistics (NBS) has reported that Benue State recorded the highest average price for a 5kg cylinder of cooking gas at N7,000 in August 2024, while Taraba State had the lowest price at N5,600.67.
Thank you for reading this post, don't forget to subscribe!This was revealed in the Bureau’s Cooking Gas Price Watch report for August 2024, released on Sunday in Abuja. The report stated that the average national price for 5kg of cooking gas increased by 7.62% from N5,974.55 recorded in July to N6,430.02 in August 2024.
According to the report, the August 2024 price represents a year-on-year rise of 56.25% compared to N4,115.32 in August 2023.
In terms of state profiles, Rivers and Borno followed Benue with the next highest average prices, recorded at N6,954.55 and N6,914.29, respectively. On the other hand, Abuja and Kogi recorded the next lowest average prices after Taraba, at N5,825.00 and N5,857.56, respectively.
An analysis by regions showed that the South-East recorded the highest average retail price for 5kg cooking gas at N6,585.18, followed by the South-South at N6,451.34. The North-Central region had the lowest average price at N6,344.29.
Additionally, the NBS highlighted the rise in the price of 12.5kg of cooking gas. The report noted that the average retail price for refilling a 12.5kg cylinder increased by 9.05% month-on-month, from N14,261.57 in July 2024 to N15,552.56 in August 2024. On a year-on-year basis, the price increased by 69.15% from N9,194.41 in August 2023.
Rivers State again recorded the highest average retail price for 12.5kg of cooking gas at N17,086.36, followed by Cross River at N17,050.00 and Abia at N17,012.52. The lowest prices were recorded in Bauchi at N13,425.00, followed by Nasarawa at N13,640.94 and Adamawa at N13,725.00.
In terms of regional analysis, the South-South had the highest average retail price for 12.5kg of cooking gas at N16,524.00, while the North-Central region had the lowest at N14,767.41.
The NBS also reported a significant rise in the price of kerosene. The average retail price per litre of kerosene increased to N1,847.59 in August 2024, a 4.39% rise compared to N1,769.86 in July 2024. On a year-on-year basis, the price of kerosene rose by 45.21% from N1,272.40 in August 2023.
Zamfara recorded the highest average price per litre of kerosene at N2,566.67, followed by Kano at N2,444.44 and Ogun at N2,388.89. The lowest prices were found in Taraba at N1,181.18, Adamawa at N1,185.74, and Borno at N1,296.95.
Analysis by regions showed that the North-West had the highest average price per litre of kerosene at N2,118.29, while the North-East recorded the lowest average price at N1,454.38.
The report further indicated that the average retail price for a gallon of kerosene increased by 11.80% in August 2024, rising to N6,441.94 from N5,762.10 recorded in July 2024. On a year-on-year basis, the price per gallon increased by 48.04% from N4,351.53 in August 2023.
State profile analysis revealed that Katsina recorded the highest price per gallon at N8,200, followed by Kebbi at N8,075.00 and Kaduna at N8,038.46. Nasarawa recorded the lowest price at N5,092.46, followed by Niger at N5,104.17 and Plateau at N5,445.83.
Regional analysis showed that the North-West had the highest average price per gallon of kerosene at N7,787.64, while the North-Central region recorded the lowest price at N5,463.69.
