The average five-kilogram cooking gas price rose from N4,397.68 in July to N4,456.56 in August, the National Bureau of Statistics (NBS) said.
The agency revealed this in its Cooking Gas Price Watch issued on Tuesday. He noted that the price in August indicated an increase of 1.34 percent per month compared to July.
“In year-on-year terms, the August 2022 price was an increase of 101.17% over the price of N2,215.33 paid for the same volume of gas in August 2021,” he stated.
The report added that Taraba recorded the highest average price of N4,925.44 for five kilograms of cooking gas, followed by Adamawa, which cost N4,920, and Lagos, which sold for N4,782.50. It also stated that Katsina posted the lowest price of N4,020 in August, followed by Ogun and Yobe with N4,057.14 and N4,078.46, respectively.
Analysis by geopolitical zone showed that the center-north recorded the highest average retail price of N4,615.95 for five kilograms of cooking gas, followed by the northeast with N4,548.03. The North West recorded the lowest retail price at N4,285.51.
The NBS also reported that the average retail price of 12.5kg of cooking gas increased to N9,899.34 in August 2022 from N9,824.07 in July, representing a monthly increase of 0.77%.
“On a year-over-year basis, the price increased by 119.26% from N4,514.82 in August 2021,” it stated.
The report added that the highest retail price was recorded at Ebonyi at N11,225 per 12.5kg, followed by Cross River at N10,982.14 and Delta at N10,965.42. The lowest average price was recorded in Katsina state at N8,150, followed by Yobe and Taraba at N8,212.63 and N8,886.30, respectively.
Similarly, the price of kerosene rose to N809.52 per liter in August, showing an increase of 2.5 percent from the N789.75 it sold for in July. The report noted that, year on year, the average retail price per liter of kerosene increased by 102.38% from the N400.01 recorded in August 2021.
Further analysis showed that the highest average price per liter of kerosene in August 2022 was recorded in Imo at N1083.33, followed by Ekiti at N1026.92 and Enugu at N1017.74. The report showed that the lowest price was recorded in Nasarawa at N625, followed by Rivers at N627.45 and Adamawa at N633.33.
Analysis by geopolitical zones showed that the South East had the highest average retail price per liter at N953.88, followed by the South West at N910.85.
“The South-South recorded the lowest average price at N749.51,” he said. The agency added that the average retail price per gallon of kerosene in August was N2,947.65, showing an increase of 2.12% from N2,886.41 in July 2022.
According to the report, the price for August 2022 was a 122.4% increase from the price of N1,325.39 paid in August 2021. Analysis of the states showed that Abuja paid the highest price for N4. 050 per gallon of kerosene in August, followed by Abia where it sold for N3,825 and Enugu for N3,574.52.
Zamfara recorded the lowest price at N2,280 per gallon of kerosene, followed by Lagos and Benue, which were sold at N2,526.32 and N2,566.67, respectively.
The NBS stated that analysis by geopolitical zones showed that the southeast posted the highest average retail price per gallon of kerosene at N3,276.78, followed by the southwest at N3,073.27.
It added that the North East recorded the lowest average retail price at N2,687.63 per gallon.