UPDATE: PRICE OF 5KG COOKING GAS RISES TO N6,699 IN SEPTEMBER - NBS

Read Time:3 Minute, 29 Second

According to the National Bureau of Statistics (NBS), the average price of 5 kg of cooking gas has grown from 6,430.02 in August to N6,699.63 in September 2024.

The NBS discovered this in its newly published report on “Cooking Gas Price Watch” for September 2024, which was released on Friday in Abuja.

According to the data, the September price was a 4.19 percent rise over what was acquired in August.

The average price of 5 kg of cooking gas grew by 59.90% year on year, from 4,189.96 in September 2023 to 6,699.63 in September 2024.

According to the research, Rivers had the highest average price (₦7,285.71), followed by Gombe (₦7,271.88) and Borno (₦7,089.72).

On the other hand, Kebbi recorded the lowest price at N5,950.00, followed by Kano and Benue at ₦6,133.33 and ₦6,143.52, respectively.

The North-East recorded the highest average retail price at ₦6,929.02 for 5 kg of cooking gas, followed by the South-East at ₦6,893.47.

“The North-West recorded the lowest average retail price at ₦6,382.30,” the NBS said.

According to the data, the average retail price for replenishing a 12.5 kg cooking gas grew by 4.89% month-on-month from 15,552.56 in August 2024 to 16,313.43 in September.

In September 2024, the average retail price for 12.5 kg of cooking gas increased by 76.41% year on year, from 9,247.40 in September 2023 to 16,313.43.

Rivers had the highest average retail price of 17,992.86, followed by Gombe at 17,942.86 and Zamfara at 17,475.00. Adamawa had the lowest average price for 12.5 kg of cooking gas at 13,983.33, followed by Nassarawa and Bauchi at 14,938.50 and 15,000.00.

The South-East had the highest average retail price (16,957.29), followed by the South-West (16,665.45).

The report said the North-East recorded the lowest price at ₦15,770.75.

Similarly, the NBS said the average retail price per litre of kerosene increased to ₦1,957.44 in September 2024 on a month-on-month basis.

The increase showed an increase of 5.97 per cent, compared to the ₦1,847.59 recorded in August 2024.

According to its National Kerosene Price Watch for September 2024 on a year-on-year basis, the average retail price per litre of kerosene rose by 50.68 per cent from ₦1,299.03 in September 2023.

On state profile analysis, the report showed that Abuja recorded the highest average price at ₦2,816.67 per litre of kerosene in August, followed by Kaduna at ₦2,437.50 and Akwa Ibom at ₦2,411.11.

“On the other hand, the lowest price was recorded in Bayelsa at N1,416.67, followed by Borno at ₦1,477.83 and Ekiti at ₦1,635.00.”

The NBS analysis further showed that the North Central recorded the highest average retail price per litre of kerosene at ₦2,194.05, followed by the North-West at ₦2,092.92.

It said the South-East recorded the lowest average retail price per litre of kerosene at ₦1,718.89.

Average retail price per gallon of kerosene paid by consumers in September 2024 was ₦6,818.1, indicating an increase of 5.84 per cent increase from ₦6,441.94 recorded in August 2024.

“On a year-on-year basis, the average price per gallon of kerosene increased by 55.69 per cent from ₦4,379.31 in September 2023.

Katsina recorded the highest average retail price at ₦8,400 per gallon of kerosene, followed by Jigawa at ₦8,100.00 and Kebbi and Ogun at ₦8,000.00.

Nasarawa recorded the lowest price at ₦5,250.00, followed by Adamawa and Niger at ₦5,281.25 and ₦5,291.67, respectively.

This is also as the North-West recorded the highest average price per gallon of kerosene at ₦7,809.52, followed by the South-East at ₦7,700.19.