Nigeria: Cooking Gas, Petrol, Diesel Prices Soared in May - NBS

Nigerians bought Liquefied Petroleum Gas (LPG) or cooking gas, petrol and diesel at higher prices in May, said the National Bureau of Statistics (NBS).

In a report, NBS said a kilogram of gas sold for N784.2, an increase of 3.18 per cent at N3,800 in April to N3,921.35 in May while 12kg gas cylinder rose to N8,726 from N8,164 April 2022 representing a 6.88%.

While filling a 5kg cylinder was N3, 921.35, an average increase of 89.28% from N2, 071 in May in 2021, the 12.5kg price rose by 103.46% in one year from N4, 288.95 in May 2021 to N8, 726 in May 2022.

"The state comparisons showed that the highest average retail price for the refilling of 12.5kg was recorded in Abuja with N9, 308, followed by Ekiti with N9, 209 and Oyo, with N9, 184.

Also, consumers bought petrol at a higher average price of N173 in May, a 2.99% increase compared to N168 in May 2022. The increase between April 2022 and May was 0.27% at N172.

For Automotive Gas Oil (Diesel), its average price increased by 181% from N238.82 in May 2021 to N671 in May 2022.

The price increased from N654 in April 2022 at 2.54% to the N671, paid in May. So far, most stations in Abuja sell diesel for 750 per litre, with consumers fearing further hike.

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