The National Bureau of Statistics, NBS, has reported a significant year-on-year increase in the average price of 5kg cooking gas, further burdening consumers.
NBS reports shows that the ‘ “Cooking Gas Price Watch” released on Monday, the average price for 5kg of cooking gas rose by 8.70 percent from N4,565.56 in December 2022 to N4,962.87 in December 2023. This increase of 2.79 percent was observed when comparing the results to November 2023.
The report also provided state and zonal analyses, revealing that Adamawa recorded the highest average price for 5kg cooking gas at N5,725.33, followed by Jigawa and Lagos.
On the contrary, Ebonyi had the lowest average price at N4,071.43. At the zonal level, the North-East reported the highest average retail price for 5kg of cooking gas, while the South-East had the lowest.
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For the larger 12.5kg cooking gas cylinder, the NBS noted a month-on-month increase of 3.18 percent, rising from N11,155.15 in November 2023 to N11,510.16 in December 2023. On a year-on-year basis, the average retail price for the 12.5kg cylinder increased by 12.31 percent.
State profiles indicated that Cross River recorded the highest average retail price for the 12.5kg cooking gas, followed by Edo and Delta, while Ebonyi had the lowest average price.
At the zonal level, the South-South reported the highest average retail price for the 12.5kg cooking gas, with the South-East recording the lowest.
These continuous increases in cooking gas prices pose challenges for consumers, and stakeholders may need to explore measures to mitigate the impact on households and businesses.
