The average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 69.15% 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 the reason for the increase, however, inflation rate has been on a rising trajectory in recent months, hitting as high as 34% before dropping slightly to 32.15% in August from 33.40% ce 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.
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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.
