- Price rises by 1.46% in November
BY BAMIDELE FAMOOFO
On State profile analysis, Niger State recorded the highest average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N4, 983.33, followed by Kwara with N4, 963.33, and Adamawa with N4, 960.00.
“The average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 1.46 percent on a month-on-month basis from N4, 483.75 recorded in October 2022 to N4, 549.14 in November 2022,” according to figures made available by the National Bureau of Statistics.
On a year-on-year basis, this rose by 37.34 percent from N3, 312.42 in November 2021.
Abia recorded the lowest price with N4, 125.00, followed by Delta and Anambra with N4, 202.78 and N4, 204.17 respectively. In addition, analysis by zone showed that the North-Central recorded the highest average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N4,852.74, followed by the North-East with N4,606.80, while the South-East recorded the lowest with N4,357.18.
Also, the average retail price per litre of Household Kerosene (HHK) paid by consumers in November 2022 on a month-on-month basis was N1, 083.57, indicating an increase of 4.08 percent compared to N1, 041.05 recorded in October 2022. On a year-on-year basis, the average retail price per litre of the product rose by 145.68 percent from N441.06 in November 2021. On state profile analysis, the highest average price per litre in November 2022 was recorded in Akwa Ibom with N1, 416.67, followed by Cross River with N1, 366.67 and Abuja with N1, 306.67. On the other hand, the lowest price was recorded in Borno with N875.83, followed by Rivers with N910.00 and Nasarawa with N913.56.
Diesel
The average retail price of Automotive Gas Oil (Diesel) paid by consumers in November 2022 was N808.87 per litre. This shows an increase of 191.14% on a year-on-year basis from a lower cost of N277.83 per litre recorded in the corresponding month of last year (2021). While on a month-on-month basis, the price increased by 0.97% from N801.09 recorded in the preceding month of October 2022. Looking at the variations in the state prices, the top three States with the highest average price of the product in November 2022 include Ebonyi (N869.00), Plateau (N865.00) and Nasarawa (N858.89).
Furthermore, the top three lowest prices were recorded in the following State namely, Akwa Ibom (N750.00), Benue (N772.00) and Borno (N780.50) The Zonal representation of the average price of Automotive Gas Oil (Diesel) shows that North Central has the highest price of N826.88 while the South-South zone has the lowest price of N783.73 when compared with other zones.
