Price of Cooking Gas Declines in May, Says NBS
The National Bureau of Statistics (NBS), says the average price of 5kg of cooking gas reduced from N4,642.27 recorded in April 2023 to N4,360.69 in May 2023. The statistics office revealed this in its “Cooking Gas Price Watch’’ for May 2023 posted on its website.
The report said the May 2023 price represented a 6.07 per cent increase, compared to what was obtained in April 2023.
It said on a year-on-year basis, the increase was 11.20 per cent from N3,921.35 recorded in May 2022. On state profile analysis, the report showed that Bayelsa recorded the highest average price of N5,016.67 for 5kg Cooking Gas, followed by Zamfara at N5,000.00, and Abuja at N4,900.00.
NBS stated that on the other hand, Ondo recorded the lowest price at N3,795.83, followed by Nasarawa and Edo at N3,800.00 and N3,837.14, respectively. Analysis by zone showed that the North-Central recorded the highest average retail price of N4,712.85, followed by the North-West at N4,550.04.
“The South-East recorded the lowest retail price at N4,078.50,” the NBS said. The report said the average retail price for refilling a 12.5kg cooking gas reduced by 7.61 per cent on a month-on-month basis from N10,323.33 in April 2023 to N9,537.89 in May 2023.
On a year-on-year basis, this rose by 9.30 per cent from N8,726.30 recorded in May 2022 to N9,537.89 in May 2023, its report shows.
State profile analysis showed that Cross River recorded the highest average retail price of N11,083.33 for 12.5kg cooking gas, followed by Jigawa at N10,975.00 and Akwa Ibom at N10,174.29.
On the other hand, the report showed that the lowest average price of 12.5kg of cooking gas was recorded in Adamawa at N7,925.00, followed by Zamfara and Borno at N8,128.57 and N8,200.00, respectively.
Analysis by zone showed that the South-South recorded the highest average retail price for refilling a 12.5kg cooking gas at N10,042.60, followed by the South-West at N9,616.89.
The report said the North-East recorded the lowest price with N8,908.30. Similarly, the average retail price per litre of Kerosene rose to N1,206.05 paid in May 2023, on a month-on-month basis, showing an increase of 3.91 per cent, compared to N1,160.67 recorded in April 2023.
According to its National Kerosene Price Watch for May 2023, on a year-on-year basis, the average retail price per litre of kerosene rose by 77.48 per cent from N679.54 in May 2022.
On state profile analysis, the report showed that the highest average price per litre in May 2023 was recorded in Adamawa at N1,788.88, followed by Abuja at N1,445.50 and Abia at N1,396.66.
On the other hand, the lowest price was recorded in Edo at N972.35, followed by Kebbi at N991.04 and Zamfara at N1,018.51. The NBS said the analysis further showed that the South-East recorded the highest average retail price per litre of kerosene at N1,351.55, followed by the North-East at N1,326.45.
In the report, it was noted that the North-West recorded the lowest average retail price per litre of kerosene at N1,070.06.
The report said the average retail price per gallon of kerosene paid by consumers in May 2023 was N4,208.27, indicating a 0.99 per cent increase from N4,166.94 recorded in April 2023.
On a year-on-year basis, the average price per gallon of kerosene increased by 78.44 per cent from N2,358.30 recorded in May 2022. Nigerian Treasury Bills Yield Rises to 7%
