Gas Price Increased 101% In One Year — NBS

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The price of cooking gas on a year-on-year basis increased by 101.17 per cent in August 2022 compared with August 2021, the National Bureau of Statistics said.

Average price of 5kg cooking gas increased from N4,397.68 in July to N4,456.56 in August.

The NBS made the assertion in its Cooking Gas Price Watch issued on Tuesday in Abuja.

It noted that the price in August indicated a 1.34 per cent increase on a month-on-month basis from what obtained in July.

“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.

Gas Price Increased 101% In One Year — NBS

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 in August, followed by Ogun and Yobe at N4,057.14 and N4,078.46, respectively.

Analysis by geopolitical zones showed that the North-Central recorded the highest average retail price of N4,615.95 for 5kg cooking gas, followed by the North-East at N4,548.03.

The North-West 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.

“On a year-on-year basis, the price rose by 119.26 per cent from N4,514.82 in August 2021,’’ it stated.

The report added that the highest retail price was recorded in Ebonyi State at N11,225 for 12.5kg, followed by Cross River State at N10,982.14 and Delta State at N10,965.42.

The lowest average price was recorded in Katsina State at N8,150, followed by Yobe and Taraba states at N8,212.63 and N8,886.30, respectively.