The National Bureau of Statistics says the average price of Liquefied Petroleum Gas also known as cooking gas crashed further last month.
In its Liquefied Petroleum Gas Price Watch May 2023, the bureau said the price of filling a 5kg cylinder dropped by 6.07 per cent to N4,360 in May from N4,642 in April.
However, the price rose by 11.20 per cent year–on–year from N3,921.35 in May 2022.
The report said, “The average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) declined by 6.07 per cent on a month-on-month basis from N4,642.27 recorded in April 2023 to N4,360.69 in May 2023.
On a year-on-year basis, this rose by 11.20 per cent from N3,921.35 in May 2022.”
It also noted that on state profile analysis, Bayelsa recorded the highest average price for refilling a 5kg cylinder with N5,016, followed by Zamfara with N5,000 and Abuja with N4,900.
Also, the average retail price for refilling a 12.5kg cylinder of cooking gas declined by 7.61 per cent on a month-on-month basis from N10,323 in April to N9,538 in May.
On a year-on-year basis, this rose by 9.30 per cent from N8,726 in May 2022.
On state profile analysis, Cross River recorded the highest average retail price for the refilling of a 12.5kg cylinder with N11,083, followed by Jigawa with N10,975.00 and Akwa Ibom with N10,174.
Conversely, the lowest average price was recorded in Adamawa with N7,925 followed by Zamfara and Borno with N8,128 and N8,200, respectively.
Analysis by zone showed that the South-South recorded the highest average retail price for refilling a 12.5kg cylinder at N10,042, followed by the South-West with N9,616.89, while the North-East recorded the lowest price at N8,908.
Checks revealed that as of this month, the price has further crashed to about N4,500 for 6kg cylinder, and N9500 for 12.5kg cylinder.
Source: Punch
