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Cost of refiling 12 Kg cooking gas cylinder falls in July ~NBS

By on August 18, 2020 0 119 Views

The average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (LPG), Cooking Gas fell marginally to N4,126.82 in July from N4,139.18 in June 2020, the National Bureau of Statistics (NBS) said in its report on Tuesday.
However, the refilling of the 12.5 Kg cooking gas cylinder cost more in states like Akwa Ibom, Cross River and Bayelsa, according to the report.
The report stated that refiling 12.5 kg cooking gas cylinder in Akwa Ibom cost N4,634.39, in Cross River it cost N4,592.11 while in Bayelsa it cost N4,568.18 in the month of July.
“States with the lowest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas
(Cooking Gas) were Kano (N3,680.00), Oyo (N3,687.50) and Kaduna (N3,754.29),” the NBS report stated.
The report showed that the average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by 0.13 percent month-on-month and by -2.64 percent year-on-year to N1,971.34 in July 2020 from N1973.95 in June 2020.
“States with the lowest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas
(Cooking Gas) were Ebonyi (N1,703.32), Jigawa (N1,616.67) and Imo (N1,611.11).
In spite of the decrease in the price of refining cylinder domestic cooking gas, the cost of living remains high among the Nigerian populace, reflecting the increase in inflationary trend in the country.
READ ALSO: Nigeria’s Inflation Rate Rise 12.82% In July Vs 12.56% In June
Nigeria’s consumer price index (CPI) which measures inflation rose 12.82 percent year-on-year in July 2020, compared with 12.56 percent in the previous month.
A sustained increase in the cost of living in the country reduces the quality of life and pushes more people into the poverty line while a survey by the NBS has shown that more people lost their jobs during the lockdown imposed by the government to contain the spread of coronavirus pandemic in the country.
Nigeria is currently battling with dwindling revenue from oil exports due to the impact of the coronavirus on demand chain leading to a sharp drop in global oil prices.
A number of companies have quietly eased out many of their workers as production level declined across the board, leading to a reduction in the earnings capacity of many companies.#GFD

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