Gas prices rose by 86.62% in a year, according to the NBS

The National Bureau of Statistics has reported that the average cost of 5 kg of cooking gas climbed from N4,456.56 in August to N4,474.48 in September.

According to its “Cooking Gas Price Watch” report for September 2022, which was published on Saturday in Abuja, the price was 0.40 percent higher in September than it was in August.

On an annual basis, the price of N4,474.48 for 5Kg of gas in September 2022 represented a rise of 86.62% above the price of N2,397.60 attainable for the same amount in September 2021, it claimed.

According to assessments of state profiles, Kwara had the highest average price for 5 kg of cooking gas at N4,950. Niger was second with a price of N4,941.67, while Adamawa was third with a price of N4,928.29.

Abia had the lowest price, which was N4,044.44, followed by Anambra and Kano State, which had prices of N4,100.00 and N4,109.67, respectively.

According to geopolitical zone analyses, the Northeast charged N4,539.41 for 5 kg of cooking gas, which was followed by the North-Central at N4,715.74.

The NBS reported that the South-South had the lowest retail price at N4,317.92.

Additionally, it said that from N9,899.34 in August 2022 to N9,906.44 in September 2022, representing a 0.07 percent rise month-over-month, the average retail price for refilling a 12.5 kilogram cooking gas cylinder climbed.

The price increased by 60.69% from N6,164.97 in September 2021 to the same period in September 2022 when compared on an annual basis.

According to official studies, the data showed that the average retail price for 12.5 kg of cooking gas in Cross River was N10,937.50, with Kogi and Oyo following closely after at N10,760 and N10,723.75, respectively.

According to the NBS, Yobe had the lowest average price, which was N8,350. Katsina and Taraba were next, with average prices of N8,545.56 and N9,025.78, respectively.

Kerosene prices increased similarly, rising to N947.30 a litre in September from N809.52 in August 2022, a 17.2% rise.

In September 2022, the average retail price per litre increased by 118.08% from N434.39 in September 2021, as reported by its “National Kerosene Price Watch,” to N947.30.

Following Ebonyi at N1,263.89 and Cross River at N1,187.50, further data revealed that Enugu State had the highest average price per litre of kerosene in September 2022 at N1,272.50.

According to the data, Rivers had the lowest price at N686.27, followed by Bayelsa at N715.15 and Nasarawa at N735.29.

Following the Southeast with a N1,128.28 average retail price per litre of kerosene, the Southwest came in second at N1,068.18, according to analysis by zone.

The NBS reported that the Northwest had the lowest average retail price for kerosene at N868.89 per litre.

The average retail price of kerosene per gallon in September 2022 was N3,236.27, up 9.79% from the N2,947.65 recorded in August, it was further said.

According to the research, the price rose from N1,540.82 in September 2021 to N3,236.27 in September 2022, representing a year-over-year rise of 110.04 percent.

According to state-by-state analyses, Enugu State had the highest per-gallon kerosene price at N4,052.38 and Abia had the lowest at N4,200.00. Abuja had the highest price at N4,200.00.

Borno had the lowest price of N2,500, according to the NBS, followed by Zamfara and Delta with N2,555.56 and N2,576.92, respectively.

According to assessments by zone, the Southeast had the highest average retail price per gallon of kerosene at N3,607.38, followed by the Southwest at N3,468.42, it was further said.

The Northeast had the lowest price of N2,803.96 for a gallon of kerosene in September 2022, according to the report.