Cooking gas price rises by 101%
The average price of 5kg cooking gas increased from N4,397.68 in July to N4,456.56 in August. The assertion was made by the National Bureau of Statistics (NBS), in its Cooking Gas Price Watch in Abuja. It noted that the price last month indicated a 1.34 per cent increase from what obtained the previous month. “On a year-on-year basis, the August 2022 price was a 101.17 per cent increase over the price of N2,215.33 paid for the same volume of gas in August 2021,” it stated. The report added that Taraba recorded the highest average price of N4,925.44, for 5kg cooking gas, followed by Adamawa where it cost N4,920, and Lagos State where it sold for N4,782.50. It stated also that Katsina State recorded the lowest price of N4,020 last month, followed by Ogun and Yobe at N4,057.14 and N4,078.46. Analysis by geopolitical zones showed that the Northcentral recorded the highest average retail price of N4,615.95 for 5kg cooking gas, followed by the Northeast at N4,548.03. The Northwest recorded the lowest retail price at N4,285.51. The NBS reported also that the average retail price of 12.5kg cooking gas increased to 9,899.34 in August 2022 from N9,824.07 in July, representing a 0.77 per cent month-on-month increase.