…Rivers State Leads with Highest Cooking Gas Prices as Kerosene Costs Surge
The National Bureau of Statistics (NBS) has released its latest ‘Cooking Gas Price Watch’ for September 2024, revealing a substantial increase in the cost of cooking gas nationwide.
The report, published on Friday, highlighted a 4.19% rise in the average price of 5kg of cooking gas, climbing from N6,430.02 in August to N6,699.63 in September 2024.
The report further noted that the price surge was more pronounced in certain states, with Rivers State recording the highest average price for 5kg of cooking gas at N7,285.71. Gombe followed closely with N7,271.88, while Borno stood at N7,089.72. On the lower end of the spectrum, Kebbi recorded the cheapest price for 5kg of cooking gas at N5,950.00, trailed by Kano at N6,133.33 and Benue at N6,143.52.
Comparing the September 2024 figures with the same period last year, the NBS report revealed a staggering 59.90% year-on-year increase, from N4,189.96 in September 2023 to N6,699.63 in September 2024.
Inspector Sodiq Adeniyi of the NBS stated, “The North-East zone saw the highest regional average retail price at N6,929.02, while the South-East followed with N6,893.47. The North-West recorded the lowest zone-wide average at N6,382.30.”
In addition to the rise in 5kg cooking gas prices, the report also detailed an increase in the average retail price for refilling a 12.5kg cylinder. The cost rose by 4.89% from N15,552.56 in August 2024 to N16,313.43 in September. On a year-on-year basis, the price surged by 76.41%, compared to the N9,247.40 recorded in September 2023.
Rivers State once again recorded the highest price for 12.5kg cooking gas at N17,992.86, followed by Gombe at N17,942.86 and Zamfara at N17,475.00. Conversely, Adamawa posted the lowest price for a 12.5kg cylinder at N13,983.33, with Nasarawa and Bauchi following at N14,938.50 and N15,000, respectively.
Zone-wise analysis showed that the South-East had the highest average retail price for 12.5kg cooking gas at N16,957.29, while the North-East recorded the lowest price at N15,770.75.
Similarly, the NBS report on kerosene prices indicated a significant rise in September 2024. The average retail price per litre of kerosene increased by 5.97%, from N1,847.59 in August to N1,957.44 in September. The year-on-year comparison showed a sharp rise of 50.68%, up from N1,299.03 in September 2023.
According to the National Kerosene Price Watch for September 2024, Abuja recorded the highest average price per litre of kerosene at N2,816.67, followed by Kaduna at N2,437.50 and Akwa Ibom at N2,411.11. In contrast, Bayelsa had the lowest price at N1,416.67, with Borno at N1,477.83 and Ekiti at N1,635.
The NBS spokesperson added, “North-Central states recorded the highest average retail price per litre of kerosene at N2,194.05, followed by the North-West at N2,092.92. Meanwhile, the South-East recorded the lowest average retail price at N1,718.89.”
Furthermore, the cost of kerosene per gallon also saw a rise. The average retail price per gallon increased by 5.84% from N6,441.94 in August 2024 to N6,818.10 in September. On a year-on-year basis, the average price per gallon surged by 55.69%, up from N4,379.31 in September 2023.
State-by-state analysis showed that Katsina recorded the highest price per gallon of kerosene at N8,400, followed by Jigawa at N8,100, and both Kebbi and Ogun at N8,000. On the other hand, Nasarawa posted the lowest price at N5,250, followed by Adamawa at N5,281.25 and Niger at N5,291.67.
“The North-West region recorded the highest average price per gallon at N7,809.52, followed by the South-East at N7,700.19, while the North-Central zone had the lowest average price at N6,092.77,” the report concluded.
