Prices of cooking gas, kerosene slump, despite inflation

Prices of cooking gas and kerosene slumped in May despite the rise in the inflation rate of the country.

The National Bureau of Statistics (NBS) reported that inflation rate increased by 11.40 percent in May, 2019, being 0.03 percent points higher than the 11.37 percent rate recorded in April, 2019.

However, data sourced from NBS showed that the price rice did not affect cooking gas and kerosene in the month.

The NBS reported that average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by -0.90 percent month-on-month and -2.13 percent year-on-year to N2,028 in May 2019 from N2,046 in April 2019.

States with the highest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Adamawa and Bauchi (N2,500.00), Yobe (N3,375.00) and Borno (N2,342.86).

States with the lowest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Edo (N1,714.17), Abuja (N1,675.00) and Ebonyi (N1,666.67).

The average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by -0.79 percent month-on-month and -1.82 percent year-on-year to N4,220.44 in May 2019 from N4,253.91 in April 2019.

Similarly, the average price per litre paid by consumers for National Household Kerosene decreased by -0.11 percent month-on-month and increased by 12.71percent year-on-year to N315.91 in May 2019 from N316.26 in April 2019.

States with the highest average price per litre of kerosene were Anambra (N363.54) , Ebonyi (N355.00), and Plateau (N351.85). States with the lowest average price per litre of kerosene were Abuja (N291.67), Katsina (N290.67) and Gombe (N265.39).

Similarly, average price per gallon paid by consumers for National Household Kerosene decreased by -0.12 percent month-on-month and increased by 23.07 percent year-on-year to N1,210.56 in May 2019 from N1,211.99 in April 2019.

States with the highest average price per gallon of kerosene were Gombe (N1,415.38), Taraba (N1,397.00) and Jigawa (N1,378.57). States with the lowest average price per gallon of kerosene were Bayelsa (N1,040.90) Akwa Ibom (N1,031.25) and Abuja(N1,012.50).

Daily Trust also observed that prices of diesel and kerosene also slumped during the period despite the overall rise in inflation rate. NBS reported that average price paid by consumers for automotive gas oil (diesel) decreased by -1.15 percent month-on-month and increased by 10.87 percent year-on-year to N228.02 in May 2019 from to N230.67 in April 2019.

States with the highest average price of diesel were Borno (N266.67), Adamawa (N245.63) and Cross River (N245.28).

States with the lowest average price of diesel were Nasarawa (N206.93), Ekiti (N206.65) and Benue (N203.33).

SOURCE: dailytrust