The National Bureau of Statistics (NBS) has released its latest data on the retail prices of cooking gas and kerosene across Nigeria for May 2024, indicating notable increases in prices compared to the previous month.
According to the NBS report, the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) rose by 13.75% on a month-on-month basis, climbing from N6,521.58 in April 2024 to N7,418.45 in May 2024. Meanwhile, the price of kerosene saw a more modest increase of 0.74%.
State-specific analysis revealed significant variations in cooking gas prices, with Benue recording the highest average price of N8,012.03 per 5kg cylinder, followed closely by Enugu and Ondo. Conversely, Yobe had the lowest average price at N5,842.31.
Regional analysis indicated that the South-East had the highest average retail price for 5kg cylinders of cooking gas at N7,680.87, followed by the South-West and the North-East with lower averages.
For 12.5kg cylinders of cooking gas, the average retail price decreased slightly by 0.07% month-on-month to N15,627.40. However, compared to May 2023, prices had risen sharply by 63.85%. State-level data showed Zamfara with the highest average price, while Bauchi recorded the lowest.
Turning to household kerosene (HHK), the average retail price per litre in May 2024 was N1,450.35, marking a 0.74% increase from April 2024 and a significant 20.26% increase year-on-year. Benue recorded the highest average price per litre, while Katsina had the lowest.
The average retail price per gallon of household kerosene in May 2024 was N5,196.69, reflecting a 0.43% increase from the previous month and a 23.49% increase compared to May 2023. Kano topped the list with the highest average price per gallon, while Kwara had the lowest.
Regional analysis for household kerosene prices showed the North Central with the highest average, followed by the South-West and the North-East with the lowest.
The NBS report underscores ongoing cost pressures for essential household fuels, impacting consumers across different regions of Nigeria.
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