The National Bureau of Statistics (NBS) reports that the average price of a 5kg cylinder of cooking gas rose from N5,974.55 in July 2024 to N6,430.02 in August 2024. This information is part of the Bureau’s “Cooking Gas Price Watch” for August 2024, released on Sunday in Abuja.
The report indicates that the August price reflects a 7.62 percent increase compared to July. Additionally, on a year-on-year basis, the average price of 5kg of cooking gas increased by 56.25 percent, from N4,115.32 in August 2023 to N6,430.02 in August 2024.
State-by-state analysis revealed that Benue recorded the highest average price at N7,000 for a 5kg cylinder, followed by Rivers at N6,954.55 and Borno at N6,914.29.
In contrast, Taraba recorded the lowest price at N5,600.67, with Abuja and Kogi following at N5,825.00 and N5,857.56, respectively.
Analysis by zone showed that the South-East recorded the highest average retail price at N6,585.18 for 5kg cooking gas, followed by the South-South at N6,451.34. “The North-Central recorded the lowest average retail price at N6,344.29,” the NBS said.
Also, the NBS said the average retail price for refilling a 12.5kg cooking gas increased by 9.05 per cent on a month-on-month basis from N14,261.57 in July 2024 to N15,552.56 in August 2024.
The report said the average retail price for 12.5kg cooking gas rose by 69.15 per cent on a year-on-year basis from N9,194.41 recorded in August 2023 to N15,552.56 in August 2024.
State profile analysis showed that Rivers recorded the highest average retail price of N17,086.36 for 12.5kg cooking gas, followed by Cross River with N17,050.00 and Abia with N17,012.52.
On the other hand, the report showed that the lowest average price for 12.5kg of cooking gas was recorded in Bauchi at N13,425.00, followed by Nassarawa and Adamawa at N13,640.94 and N13,725.00 respectively.
Analysis by zone showed that the South-South recorded the highest average retail price of N16,524.00 for 12.5kg cooking gas, followed by the South-East at N16,495.78. The report indicated that the North-Central region recorded the lowest average price at N14,767.41.
Additionally, the NBS reported that the average retail price per litre of kerosene rose to N1,847.59 in August 2024, reflecting a month-on-month increase of 4.39 percent compared to the N1,769.86 recorded in July 2024.
According to the National Kerosene Price Watch for August 2024, the average retail price per litre also increased by 45.21 percent on a year-on-year basis, rising from N1,272.40 in August 2023.
State profile analysis showed that Zamfara recorded the highest average price at N2,566.67 per litre of kerosene in August, followed by Kano at N2,444.44 and Ogun at N2,388.89.
“On the other hand, the lowest price was recorded in Taraba at N1,181.18, followed by Adamawa at N1,185.74 and Borno at N1,296.95.”
The NBS said the analysis further showed that the North-West recorded the highest average retail price per litre of Kerosene at N2,118.29, followed by the South-South at N2,075.45. It said the North-East recorded the lowest average retail price per litre of kerosene at N1,454.38.
The report said the average retail price per gallon of Kerosene paid by consumers in August 2024 was N6,441.94, indicating an 11.80 per cent increase from N5,762.10 recorded in July 2024.
“On a year-on-year basis, the average price per gallon of kerosene increased by 48.04 per cent from N4,351.53 recorded in August 2023.
State profile analysis revealed that Katsina had the highest average retail price for a gallon of kerosene at N8,200, followed by Kebbi at N8,075.00 and Kaduna at N8,038.46.
The report noted that Nasarawa recorded the lowest price at N5,092.46, with Niger and Plateau following at N5,104.17 and N5,445.83, respectively.
Zone analysis showed that the North-West recorded the highest average price per gallon of kerosene at N7,787.64, followed by the South-West at N6,593.22. “North-Central recorded the lowest average price per gallon of Kerosene at N5,463.69,” the NBS stated.
