Gas Prices Rose by 0.21% In October- NBS

The average price of 5kg of cooking gas rose by 0.21 per cent from N4,474.48 in September to N4,483.75 in October.

The National Bureau of Statistics (NBS) disclosed this in its ‘Cooking Gas Price Watch’ for October 2022, released on Monday.

The data states that  on a year-on-year basis, the commodity recorded an increase of 70.62 per cent from N2,627.94 in October 2021 to N4,483.75 in October 2022.

Kwara State recorded the highest average price at N4,955 for 5kg of cooking gas, followed by Niger at N4,950 and Adamawa at N4,940.29, according to the state-by-state analysis, while Abia recorded the lowest price at N4,045.45, followed by Kano and Delta at N4,100 and N4,139.29, respectively.

In the geopolitical zones, the North-Central recorded the highest average retail price at N4,726.07 for 5kg of cooking gas, followed by the North-East at N4,577.86, while the South-South recorded the lowest average retail price at N4,275.92.

The NBS report further showed that the average retail price of 12.5kg cooking gas increased from N9,906.44 in September to N10,050.53 in October, indicating a 1.45 percent increase on a month-on-month basis.

“On a year-on-year basis, this showed an increase of 51.4 percent from N6,638.27 in October 2021 to N10,050.53 in October 2022,’’ it added.

On state profile analysis the report showed that Cross River recorded the highest average retail price at N10,986.11 for 12.5kg cooking gas, followed by Oyo State at N10,826.56 and Kogi at N10,783.33, while the lowest average price was recorded in Yobe at N8,533.33, followed by Sokoto and Katsina at N9,100.00 and N9,202.86, respectively.