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Price of cooking gas increases by 101% in one year

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

The assertion was made by the National Bureau of Statistics (NBS), in its Cooking Gas Price Watch issued yesterday in Abuja. It noted that the price in August indicated a 1.34 per cent increase on a monthon- 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.

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.

 

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