Cooking gas price rises by 69% in one year

Cooking gas price rises by 69% in one year 

The price of 12.5kg of liquefied petroleum gas (LPG), better known as cooking gas, increased by 69.15 per cent in one year.

The National Bureau of Statistics (NBS) disclosed this in its latest LPG price watch report for August 2024.

It  specifically said Nigerians paid an average price of N15,552.56 for a 12.5kg cylinder of cooking gas in the month under review — compared to the N9,194.41 in August 2023.
According to the report, the average price for refilling a 12.5kg of cooking gas increased from N14,261.57 in July to N15,552.56 in August — representing a 9.05 per cent month-on-month uptick.
“On a year-on-year basis, this rose by 69.15% from N9,194.41 in August 2023,” the bureau said.
Thr data body said Rivers State recorded the highest average retail price for refilling a 12.5kg cooking gas cylinder at N17,086.36, followed by Cross River (N17,050) and Abia (N17,012.52).

“Conversely, the lowest average price was recorded in Bauchi with N13,425.00, followed by Nasarawa and Adamawa with N13,640.94 and N13,725.00 respectively,” NBS added.
It also said, “Analysis by zone showed that the South-South recorded the highest average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) with N16,524.00, followed by the South-East with N16,495.78 while the North-Central recorded the lowest price with N14,767.41.”
Average retail price 

The NBS also said the average retail price of a 5kg cylinder of LPG rose by 7.62 per cent on a month-on-month basis — up from N5,974.55 recorded in July 2024 to N6,430.02 in August.

“On a year-on-year basis, this increased by 56.25% from N4,115.32 in August 2023. On state profile analysis, Benue and Sokoto recorded the highest average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N7,000.00, followed by Rivers with N6,954.55, and Borno with N6,914.29,” the NBS added.

On the other hand, the bureau said the lowest price of N5,600.67 was seen in Taraba, followed by Abuja and Kogi recording N5,825 and N5,857.56 respectively.