BUSINESS

Price of cooking gas drops in May — NBS

Published

5 years ago

June 18, 2019

FG to inject 600,000 gas cylinders to boost cooking gas penetration

The National Bureau of Statistics (NBS) said that the average cost of refilling a five kilogramme (kg) cylinder of Liquefied Petroleum Gas (Cooking Gas) dropped to N2,028.04 in May 2019 from N2,046.53 in April, 2019.

The NBS made the disclosure in its “Liquefied Petroleum Gas (Cooking Gas) Price Watch’’ for May released on Monday in Abuja.

The bureau said the price of refilling a five kg cylinder of cooking gas dropped by -0.90 per cent month-on-month and -2.13 per cent per cent year-on-year in the period under review.

According to the bureau, states with the highest average price for the refilling of a five kg cylinder of cooking gas were Adamawa and Bauchi (N2,500.00), Yobe (N3,375.00) and Borno (N2,342.86).

It named states with the lowest average price for the refilling of a five kg cylinder of cooking gas to include Edo (N1,714.17), Abuja (N1,675.00) and Ebonyi (N1,666.67).

Similarly, the NBS said the average price for the refilling of a 12.5 kg cylinder of cooking gas decreased in the month under review.

It said the price for refilling a 12 kg cylinder decreased by -0.79 per cent month-on-month and -1.82 per cent year-on-year to N4, 220.44 in May from N4, 253.91 in April, 2019

According to the NBS, states with the highest average price for the refilling of a 12.5kg cylinder of cooking gas are Bayelsa (N4,690.00), Akwa Ibom (N4,611.67) and Enugu (N4,608.33)

It named states with the lowest average price for refilling of a 12.5kg cylinder of cooking gas) as Katsina (N3, 842.86), Kano (N3, 825.00) and Ekiti (N3, 806).

The NBS said that field work was done solely by more than 700 of its staff in all states of the federation, supported by supervisors who were monitored by internal and external observers.

It said that various prices were collected across the 774 Local Governments Areas across all states and the Federal Capital Territory from more than 10,000 respondents and locations.

The NBS said its audit team subsequently, conducted randomly selected verification of prices recorded.

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