NBS Reports 13.75% Increase in Cooking Gas Prices in May

'Taraba Had The Highest Price Of Gas' - NBS

The National Bureau of Statistics (NBS) has announced a notable rise in the average price of 5kg cooking gas, which increased from N6,521.58 in April 2024 to N7,418.45 in May 2024. This represents a 13.75 percent month-on-month increase. On a year-on-year basis, the price surged by 70.12 percent from N4,360.69 in May 2023 to N7,418.45 in May 2024.

State profile analysis revealed that Benue recorded the highest average price at N8,012.03, followed by Enugu at N7,926.21, and Ondo at N7,857.53. Conversely, Yobe recorded the lowest price at N5,842.31, followed by Jigawa and Katsina at N6,521.81.

Zonal analysis indicated that the South-East had the highest average retail price of 5kg cooking gas at N7,680.87, followed by the South-West at N6,593.93. The North-East recorded the lowest average retail price at N7,071.84.

The NBS also reported a slight decline in the average retail price for refilling a 12.5kg cooking gas cylinder, which decreased by 0.07 percent from N15,637.74 in April 2024 to N15,627.40 in May 2024. However, the year-on-year increase was significant, with prices rising by 63.85 percent from N9,537.89 in May 2023 to N15,627.40 in May 2024.

State profile analysis for 12.5kg cooking gas showed that Zamfara recorded the highest average retail price at N18,369.33, followed by Bayelsa at N17,772.21 and Abia at N17,538.02. Bauchi recorded the lowest average price at N13,076.43, followed by Ebonyi and Taraba at N13,788.09 and N13,860.30, respectively.

Zonal analysis indicated that the South-South had the highest average retail price for 12.5kg cooking gas at N16,310.02, followed by the North-West at N15,991.13. The North-East recorded the lowest price at N15,010.62.

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