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The average price of a 5kg and 12.5kg Liquefied Petroleum Gas (LPG) popularly known as cooking gas declined month-on-month by 3.03 per cent and 1.84 per cent respectively in March, 2018 a report released by the National Bureau of Statistics (NBS) on 11th April, 2018 revealed.
The average price of refilling a 5kg cylinder was N2,090.6 in the month of March. This represented a month-on-month decrease of 3.30 per cent decline compared to N2,155.97 recorded in February, 2018 and a 16.6 per cent year-on-year contraction relative to the average price of N2,493.6 recorded in March, 2017.
A geographical decomposition reveals that the South-West has the lowest average price (at N2,019.15) of refilling a 5kg cylinder capacity while the North-East with an average price of N2,256.25 emerged as the region with the highest average price. Others are North-West (N2,025), South-East (N2,065.87), North-Central (2,085.48) and South-South (N2,099.76).
States with the lowest average price of refilling a 5kg included Abuja (N1,760), Ebonyi state (1,870) and Ekiti state (1,895). Conversely, the North-East states of Bauchi (N2,364.3), Yobe (N2,500) and Borno (N2,500) recorded the highest prices for March.
In the same vein, the average price for refilling a 12.5kg cylinder stood at N4,253.7 in March, 2018 representing a month-on-month decline of 1.84 per cent from the N4,333.3 average price recorded in preceding month and a year-on-year decrease from the N4,923.5 average price recorded in March 2018.
South-West geographical region had the lowest average price of refilling a 12.5kg cylinder of cooking gas (recording N3,973.3). This was closely followed by the North East with an average price of N4,038.9. Others in successive order includes North-West (N4,212.4), South-East (N4,373.3), North-Central (N4,400.2) and South-South (N4,526.6); which recorded the highest average price in this cylinder capacity category.
State-wide assessment shows that Bauchi (N3,400), Lagos (N3,768) and Oyo (N3,834.4) had the lowest average price of refilling a 12.5kg cylinder while Akwa Ibom (N4,650), Cross River (N4,730) and Benue (N4,966.7) tops the state with the highest average price.
In another report by the NBS, the average price of National Household Kerosene (NHK) for the month of March decreased to N269 per litre. This denotes a month-on-month decline of 13.7 per cent from N288.6 per litre recorded in February and a year-on-year decline relative to N311.6 per litre recorded in the corresponding period of 2017.
Price distributions across the geographical region show that the South-East had the lowest average price for NHK at N259.8 per litre while the region with the highest figure is the North-Central with an average price of N280.3 per litre.
Borno, Delta and Abia states had the lowest prices for kerosene at N225.1, N227.8 and N229.4 per litres respectively. On the other hand, Cross River (N300.7), Yobe (N300.8) and Nassarawa states (N306.1) top states with the highest price per litre of NHK in the month of March.
Similarly, average price of Automative Gas Oil (AGO) popularly known as diesel, for the month of March stood at N206.4, down by 1.7 per cent month-on-month from N209.9 in February and a 12 per cent year-on-year drop when compared with the average price of N234.6 in March, 2017.
Abia (N185.8), Bayelsa (N187.5) and Delta states (N189.6) recorded the lowest price for diesel while Kebbi (N230.8), Sokoto (N249.3) and Taraba states (N254.3) recorded the highest prices for March, 2018.
The South-East with an average price of N194.1 topped the chart of geographical regions with the lowest price for diesel while the North-West with an average price of N223.5 emerged the region with the highest price.
The NBS report equally indicated that the price of Premium Motor Spirit (PMS) also called petrol, crashed 5.3 per cent month-on-month to N163.4 from N172.5 in February, 2018. However, the price of N163.4 for PMS for the month of March, 2018 signifies a 9.4 per cent rise year-on-year when compared to the average price level of N149.4 in March of the previous year.
Kaduna, Bauchi and Abuja with average prices of N147.3, N145.6 and N145 recorded the lowest price for PMS for the month of March.
Ekiti, Jigawa and Taraba emerged as the states with the highest price for PMS with N173.9, N180.9 and N184.4 average prices respectively.
