Nigerians are currently dealing with what may be described as an existential dilemma as they must not only contend with rising food prices but also rising cooking costs.
The average retail price of liquefied petroleum gas, also known as cooking gas, increased by 89.28 percent from N2,071.69 in May 2021 to N3921.35 in May 2022, according to data from the National Bureau of Statistics (NBS) and the National Household Kerosene Price Watch for May 2022, both of which were released yesterday.
According to the NBS, the retail price of kerosene increased by 86.94% from N363.50 in May 2021 to N679.54 in May 2022.
Cooking gas prices increased month over month from N3800.47 in April 2022 to NN3921.35, while kerosene prices increased from N589.82 in April 2022 to N679.54 in May 2022.
According to the NBS data, Gombe had the highest average cost for refilling a 5kg cylinder of liquefied petroleum gas (cooking gas), at N4366.67, followed by Bayelsa and Adamawa, both at N4325.00 and N4250.00.
According to the survey, Yobe, with an average price of N3200.00, had the lowest average price; Ogun and Ondo, with average prices of N3450.00 and N3480.77, respectively, were next.
The average retail cost to refill a 5kg cylinder of liquefied petroleum gas (cooking gas) was also broken down by zone, and it was found that the South-East had the highest average retail cost at N 4094.39, followed by the North-Central and South-South at N 3989.98 and N 3977.72, respectively. The South West had the lowest average retail cost at N 3719.53.
The average cost to refill a 12.5 kg cylinder of liquefied petroleum gas (cooking gas) grew by 6.88 percent month-over-month to N8726.30 in May 2022 from N8164.37 in April 2022.
In a similar vein, from N4288.95 in May 2021, the average retail price for refueling a 12.5kg cooking gas grew by 103.46 percent on an annual basis.
According to the state profile study for kerosene, Enugu had the highest average price per litre in May 2022 with N868.75, followed by Ebonyi and Imo with N861.11 and N801.67, respectively. Contrarily, Bayelsa reported the lowest price at N558.06, followed by Yobe at N601.39 and Nasarawa at N603.33.
According to the research, the South-East had the highest average retail price per liter of home kerosene at N773.09, followed by the South-West and the North-Central at N738.19 and N668.78, respectively, while the North-East had the lowest average retail price at N632.06.
Consumers paid an average retail price per gallon of household kerosene of N2,136.52 in April 2022 and N2,358.30 in May 2022, an increase of 10.38 percent month over month.
This grew from N1,266.99 in May 2021 by 86.13 percent on an annual basis. According to a study of state profiles, Abuja had the highest average retail price in Nigeria at N3,050.00, followed by Osun and Ogun at N2,914.29 and N2,795.00, respectively.
While Gombe and Kebbi came in second and third, with prices of N1,995.00 and N2,025.00, respectively, Kogi had the lowest price at N1,920.00.
Analysis by zone revealed that the North-East had the lowest average retail price for a gallon of household kerosene at N2,126.90, followed by the South-West and the North-West with N2,548.07 and N2,390.86 respectively.