Cooking Gas, Kerosene Prices Spike Over 100% In 12 Months

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The price of cooking gas and kerosine, over the last year rose by 101 per cent and 102.38 per cent respectively.

This was revealed in the Cooking Gas Price and Household Kerosene Price Watch released by the National Bureau of Statistics (NBS) this week. The report indicated that the average price of five kilograms of cooking gas increased from N4,397.68 in July to N4,456.56 in August.

This, according to the statistics agency, shows that the price in August experienced a 1.34 per cent increase on a month-on-month basis.

it stated further that “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.”

The report added that Taraba recorded the highest average price of N4,925.44 for 5kg cooking gas, followed by Adamawa State where it cost N4,920 and Lagos State where it sold for N4,782.50.

Katsina State recorded the lowest price of N4,020 in August, followed by Ogun and Yobe at N4,057.14 and N4,078.46, respectively.

For Kerosene, the average retail price per litre of household kerosene (HHK) in August 2022 was N809.52, indicating an increase of 2.5 per cent compared to N789.75 recorded in July 2022.

On a year-on-year basis, the average retail price per litre of the product rose by 102.38 per cent, from N400.01 in August 2021.

On state analysis, the highest average price per litre in August 2022 was recorded in Imo with N1083.33, followed by Ekiti with N1,026.92 and Enugu with N1,017.74.

On the other hand, the lowest price was recorded in Nasarawa with N625, followed by Rivers with N627.45 and Adamawa with N633.33.

Nigerians, particularly those at the bottom of the pyramid, continue to groan over the rising inflation rate in the country.