According to the National Bureau of Statistics (NBS), the average price of Liquefied Petroleum Gas (LPG), also known as cooking gas, decreased by 6.07% from N4,642.27 in April to N4,360.69 in May 2023. On a year-on-year basis, there was an 11.20% increase from N3,921.35 in May 2022.

The NBS report highlighted that the average retail price for refilling a 5kg cylinder of cooking gas declined by 6.07% on a month-on-month basis, while it rose by 11.20% on a year-on-year basis. Bayelsa had the highest average price for refilling a 5kg cylinder at N5,016.67, followed by Zamfara at N5,000.00, and Abuja at N4,900. On the other hand, Ondo had the lowest price at N3,795.83, followed by Nasarawa and Edo at N3,800.00 and N3,837.14, respectively. In terms of zones, the Northcentral recorded the highest average retail price at N4,712.85, followed by the Northwest at N4,550.04, while the Southeast had the lowest at N4,078.50.

In regard to Household Kerosene (HNK), the average retail price per liter paid by consumers in May 2023 was N1,206.05, indicating a 3.91% increase compared to April 2023's N1,160.67. On a year-on-year basis, there was a significant rise of 77.48% from N679.54 in May 2022. Adamawa had the highest average price per liter in May 2023 at N1,788.88, followed by Abuja at N1,445.50, and Abia at N1,396.66. Conversely, Edo had the lowest price at N972.35, followed by Kebbi at N991.04 and Zamfara at N1,018.51. In terms of zones, the South-East recorded the highest average retail price per liter at N1,351.55, followed by the North-East at N1,326.45, while the North-West had the lowest at N1,070.06.

The average retail price per gallon of Household Kerosene paid by consumers in May 2023 was N4,208.27, indicating a 0.99% increase from April 2023's N4,166.94. On a year-on-year basis, there was a substantial increase of 78.44% from N2,358.30 in May 2022.