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The average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 69.15 per cent from ₦9,194 in August 2023 to ₦15,552 in August 2024, on a year-on-year basis, according to data from the National Bureau of Statistics (NBS).
Although the Bureau did not state reason for the increase, however, inflation rate has been on a rising trajectory in recent months, hitting as high as 34 per cent before dropping slightly to 32.15 per cent in August from 33.40 per cent in July of 2024.
The NBS report ‘Liquefied Petroleum Gas (Cooking Gas) Price Watch August 2024’, said the average retail price for refilling a 12.5kg cylinder of cooking gas increased by 9.05 per cent on a month-on-month basis from ₦14,261 in July 2024 to ₦15,552 in August 2024.
On state profile analysis, Rivers recorded the highest average retail price for the refilling of a 12.5kg cylinder with ₦17,086. followed by Cross River with ₦17,050 and Abia with ₦17,012.
On a year-on-year basis, this increased by 56.25 per cent from ₦4,115 in August 2023.
On state profile analysis, Benue and Sokoto recorded the highest average price for refilling a 5kg cylinder with ₦7,000, followed by Rivers with ₦6,954, and Borno with ₦6,914.
On the other hand, Taraba recorded the lowest price with ₦5,600 followed by Abuja and Kogi with ₦5,825 and ₦5,857 respectively.
In addition, analysis by zone showed that the South-East recorded the highest average retail price for refilling a 5kg cylinder with ₦6,585, followed by the South-South with ₦6,451 while the North-Central recorded the lowest with ₦6,344.
Conversely, the lowest average price was recorded in Bauchi with ₦13,425, followed by Nassarawa and Adamawa with ₦13,641 and ₦13,725 respectively.
Analysis by zone showed that the South-South recorded the highest average retail price for refilling a 12.5kg cylinder with ₦16,524, followed by the South-East with ₦16,496 while the North-Central recorded the lowest price with ₦14,767. (Channels)
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