Cooking gas and kerosene prices have maintained a steady rise, rising by 101 percent and 102.38 percent, respectively, in the past year, despite Nigerians’ ongoing complaints about rising prices.
The average price of 5 kilograms of cooking gas jumped from N4,397.68 in July to N4,456.56 in August, according to the National Bureau of Statistics’ (NBS) Cooking Gas Price and Household Kerosene Price Watch, published yesterday in Abuja.
This demonstrates that the price in August increased by 1.34 percent month over month, according to the statistics department.
“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.
According to the survey, Taraba recorded the highest average price for 5 kg of cooking gas at N4,925.44. Adamawa State came in second at N4,920, while Lagos State came in third at N4,782.50.
Katsina State had the lowest price in August ($4,020), followed by Ogun ($4,057.14) and Yobe ($4,078.46), respectively.
The average retail price for household kerosene (HHK) in August 2022 was N809.52, which represents a 2.5% rise from the N789.75 noted in July 2022.
The product’s average retail price per litre increased by 102.38% on an annual basis, from N400.01 in August 2021.
According to state study, Imo had the highest average price per liter in August 2022 with N1083.33, followed by Ekiti and Enugu with N1,026.92 and N1,017.74.
In contrast, Nasarawa had the lowest price at N625, followed by Rivers at N627.45 and Adamawa at N633.33.
“Most of the LPG we consume is imported and is subject to the vagaries of the forex now experienced in other commodities, goods, and services in the country,” Adetunji Oyebanji, Managing Director of 11 Plc (formerly Mobil Plc), said in response to recent price rises.