The National Bureau of Statistics (NBS) says the price of 12.5kg of liquefied petroleum gas (LPG), better known as cooking gas, increased by 69.15 percent in one year.
In its latest LPG (cooking gas) price watch report for August 2024, the NBS 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 percent 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.
Presenting a state profile analysis, the data body said Rivers 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 Nassarawa and Adamawa with N13,640.94 and N13,725.00 respectively,” NBS added.
“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 PRICE OF 5KG LPG INCREASED BY 7.62% IN AUGUST’
The NBS also said the average retail price of a 5kg cylinder of LPG rose by 7.62 percent 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 organisation 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.
The NBS said the south-east had the highest average retail price for a 5kg cylinder of LPG at N6,585.18. The south-south (N6,451.34), and north-central (N6,344.29) recorded the lowest.