…As Rivers State Buyers Pay Highest For Commodity
Consumers of Liquid Petroleum Gas (LPG) also known as cooking gas, paid an average of about 65% higher for the prices of the commodity in September this year on a year-on-year basis, with Rivers State’s consumers paying the highest prices for the item during the month.
The National Bureau of Statistics (NBS) in its just published ‘Liquefied Petroleum Gas (Cooking Gas) Price Watch (September 2024)’ indicated that while the price of a 5kg cylinder rose to N6,699.63 in September, representing 59.90% increase year-on-year, the 12.5kg cylinder price surged by 76.41%, rising from N9,247.40 in September 2023 to N16,313.43 in September this year.
According to the Bureau, the average retail price for refilling a 5kg Cylinder of the commodity increased by 4.19% on a month-on-month basis from N6,430.02 recorded in August 2024 to N6,699.63 in September 2024 and on a year-on year basis, it rose by 59.90% from N4,189.96 in September 2023.
The report showed that on state profile analysis, Rivers State buyers paid the highest average price for refilling a 5kg Cylinder cooking gas at N7,285.71, followed by Gombe consumers who bought at N7,271.88, and Borno users that paid N7,089.72 for the same volume of the item.
On the other hand, the report’s data reflected that Kebbi consumers paid the lowest price for 5kg cooking gas at N5,950.00, followed by their Kano and Benue states’ counterparts that bought the same volume at N6,133.33 and N6,143.52 respectively.
In addition, the statistics agency clarified that when analyzed on zonal basis, the North-East consumers bought the 5kg cylinder of the commodity at the highest average retail price of N6,929.02, followed by the South-East buyers who paid N6,893.47 for the same volume while the North-West users paid the lowest average price of N6,382.30 for the same volume of cooking gas
Also, the report reflected that the average retail price for refilling a 12.5kg cylinder of LPG increased by 4.89% on a month-on-month basis from N15,552.56 in August 2024 to N16,313.43 in September this year compared to the increase by 76.41% this year from N9,247.40 in September 2023.
On state profile analysis, the NBS reported that Rivers State consumers paid the highest average retail price for the refilling of a 12.5kg cylinder of cooking gas at N17,992.86, followed by Gombe and Zamfara state buyers that paid N17,942.86 and N17,475.00 respectively for the same volume of the commodity in the month under review.
Conversely, the lowest average price was recorded in Adamawa State with N13,983.33, followed by Nassarawa and Bauchi States’ buyers that paid N14,938.50 and N15,000.00 respectively for 12.5kg cylinder cooking gas during the month.
Analysis by zone showed that the South-East buyers paid the highest average retail price for refilling a 12.5kg cylinder of LPG at N16,957.29, followed by the South-West consumers that bought at N16,665.45 while the North-East users paid the lowest price of N15,770.75 for the same volume.
