Cooking gas price rises by 4.19% in Sept, kerosene surges by 5.97% – NBS

The report said the September price represented a 4.19% increase, compared to what was obtained in August.

The National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from ₦6,430.02 recorded in August to ₦6,699.63 in September 2024.

This is contained in the Bureau’s “Cooking Gas Price Watch’’ for September 2024 released on Friday in Abuja. The report said the September price represented a 4.19% increase, compared to what was obtained in August. The NBS said the average price of 5kg of cooking gas increased on a year-on-year basis by 59.90% from ₦4,189.96 in September 2023 to ₦6,699.63 in September 2024.

On state profile analysis, the report showed that Rivers recorded the highest average price at ₦7,285.71, followed by Gombe at ₦7,271.88, and Borno at ₦7,089.72. It said on the other hand, Kebbi recorded the lowest price at ₦5,950.00, followed by Kano and Benue at ₦6,133.33 and ₦6,143.52, respectively.

Analysis according to the six zones, showed that the North-East recorded the highest average retail price at ₦6,929.02 for 5kg 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.

Also, the NBS said the average retail price for refilling a 12.5kg cooking gas increased by 4.89% on a month-on-month basis from ₦15,552.56 in August 2024 to ₦16,313.43 in September.

The report said the average retail price for 12.5kg cooking gas rose by 76.41% on a year-on-year basis from ₦9,247.40 recorded in September 2023 to ₦16,313.43 in September 2024. State profile analysis showed that Rivers recorded the highest average retail price of ₦17,992.86 followed by Gombe at ₦17,942.86 and Zamfara at ₦17,475.00.

On the other hand, the report showed that the lowest average price for 12.5kg of cooking gas was recorded in Adamawa at ₦13,983.33, followed by Nassarawa and Bauchi with ₦14,938.50 and ₦15,000.00, respectively.

Analysis by zone showed that the South-East recorded the highest average retail price of ₦16,957.29, followed by the South-West at ₦16,665.45. The report said the North-East recorded the lowest price at ₦15,770.75.

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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, showing an increase of 5.97%, compared to the ₦1,847.59 recorded on 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% 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 ₦1,416.67, followed by Borno at ₦1,477.83 and Ekiti at ₦1,635.00.”

The NBS said the 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 southeast recorded the lowest average retail price per litre of kerosene at ₦1,718.89.

The report said the average retail price per gallon of Kerosene paid by consumers in September 2024 was ₦6,818.1, indicating an increase of 5.84% 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% from ₦4,379.31 in September 2023.”

On state profile analysis, it showed that 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. The report said Nasarawa recorded the lowest price at ₦5,250.00, followed by Adamawa and Niger at ₦5,281.25 and ₦5,291.67, respectively.

Analysis by zone showed that 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.

“North-Central recorded the lowest average price per gallon of Kerosene at ₦6,092.77,” the NBS added.
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