Why Cooking gas price jumps by 83% in one year –NBS

THE average retail price for cooking gas increased by 83.62 per cent from N2057.71 in March 2021, according to a new report by the National Bureau of Statistics.

The report titled, “Liquefied Petroleum Gas (Cooking Gas) Price Watch (March 2022),” indicated that the average price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) stood at N3778.30 in March 2022, from N3708.58 recorded in February 2022, showing an increase of 1.88 percent month-on-month.

According to the state profile analysis, the highest average price for refilling a 5kg cylinder of LPG was recorded in Ekiti with N4,200, followed by Niger with N4163.33 and Imo with N4150.00. On the other hand, Adamawa recorded the lowest average price with N2604.01, followed by Yobe and Kano with N2740.00 and N3300.00 respectively.

In addition, prices analysed by zones show that the average retail price for refilling a 5kg cylinder of LPG was highest in the South-East with N3992.56, followed by the South-West with N3900.55 and South-South, N3877.08, while North-East recorded the lowest average retail price with N3419.37.

The average price for refilling a 12.5kg cylinder of LPG increased to N7617.71 in March 2022, from N7447.79 in February 2022, representing a 2.28 per cent month-on-month increase. Similarly, on year-on-year basis, the average retail price for refilling a 12.5kg cooking gas increased by 74.75 per cent, from N4359.23 in March 2021.

The state analysis showed that the highest average retail price for the refilling of a 12.5kg cylinder of LPG was recorded in Osun at N8782.14, followed by Oyo with N8400.00 and Katsina, with N8300.00.

Conversely, the lowest average price for the refilling of a 12.5kg cylinder of LPG was recorded In Borno at N6100.00, followed by Akwa Ibom and Cross River whose prices were N6840.91 and N6865.91 respectively.

The average retail price of a 12.5kg cylinder of cooking gas by zones showed that the average retail price was highest in the South-West with N7892.40, followed by the North-Central and North-West with N7657.22 and N7533.91 respectively. The South-South Zone recorded the lowest price of N7091.61.

(punchng.com except headline)