NBS: Cooking Gas Prices Slumped 6% in May, Cost More in Bayelsa, Zamfara

Emmanuel Addeh in Abuja

The latest data from the National Bureau of Statistics (NBS) has indicated that the average price of a 5 kilogramme of cooking gas generally fell by about 6.07 per cent in May.
This means, according to the agency’s ‘Cooking Gas Price Watch’ that on the average, prices reduced from N4,642.27 recorded in April 2023 to N4,360.69 in May 2023.

While Bayelsa, Zamfara and Abuja topped the locations buying the product at higher prices,  the report however said that on a year-on-year basis, the increase was 11.20 per cent from N3,921.35 recorded in May 2022.
On the average, 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.
But Ondo recorded the lowest price at N3,795.83, followed by Nasarawa and Edo at N3,800.00 and N3,837.14, respectively.

Furthermore, 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, while the South-east recorded the lowest retail price at N4,078.50.”
“The average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) declined by 6.07 per cent a month-on-month basis from N4,642.27 recorded in April 2023 to N4,360.69 in May 2023.

On a year-on-year basis, this rose by 11.20 per cent from N3,921.35 in May 2022. On state profile analysis, Bayelsa recorded the highest average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N5,016.67, followed by Zamfara with N5,000.00, and Abuja with N4,900.00.
“On the other hand, Ondo recorded the lowest price with N3,795.83, followed by Nasarawa and Edo with N3,800.00 and N3,837.14 respectively.

“In addition, analysis by zone showed that the North-Central recorded the highest average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N4,712.85, followed by the North-West with N4,550.04, while the South-East recorded the lowest with N4,078.50,” it stated.
In the same vein, the average retail price per litre of kerosene rose to N1,206.05  in May 2023, showing an increase of 3.91 per cent, compared to N1,160.67 recorded in April 2023.

But 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, according to the NBS.

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,” it stated.

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, even as the North-West recorded the lowest average retail price per litre of kerosene at N1,070.06.

According to the report,  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.