The Latest Numbers on Cooking Gas Prices: A Mixed Bag
The National Bureau of Statistics has just released its latest “Cooking Gas Price Watch” for September 2024, revealing a significant rise in the average price of cooking gas. The cost of a 5kg cylinder has increased from ₦6,430.02 in August to ₦6,699.63 in September, marking a 4.19% increase from the previous month and a staggering 59.90% rise compared to ₦4,189.96 in September 2023.
The report highlights some interesting regional variations in prices, with the highest average price for a 5kg cylinder recorded in Rivers State at ₦7,285.71, followed closely by Gombe and Borno. At the other end of the spectrum, Kebbi, Kano, and Benue states reported the lowest prices.
A deeper dive into the report reveals that the North-East region had the highest average retail price for 5kg of cooking gas, while the North-West reported the lowest.
The average retail price for refilling a 12.5kg cooking gas cylinder also saw a significant increase, with a 4.89% rise from ₦15,552.56 in August to ₦16,313.43 in September. On a year-on-year basis, this represents a dramatic 76.41% increase from ₦9,247.40 recorded in September 2023.
The highest price for a 12.5kg cylinder was found in Rivers State at ₦17,992.86, followed by Gombe and Zamfara. At the opposite end of the spectrum, Adamawa, Nassarawa, and Bauchi reported the lowest prices.
In other news, the report highlights a rise in the average retail price per litre of kerosene, which increased to ₦1,957.44 in September, representing a 5.97% increase from ₦1,847.59 in August. Year-on-year, kerosene prices have surged by 50.68% from ₦1,299.03 in September 2023.
The highest average price for kerosene was recorded in Abuja at ₦2,816.67 per litre, followed by Kaduna and Akwa Ibom. On the other hand, Bayelsa reported the lowest price at ₦1,416.67 per litre. The report also notes that the North Central zone experienced the highest average retail price per litre of kerosene, while the South-East recorded the lowest.
