NBS Reports: 12.5kg Cooking Gas Price Surges to N15,552.56 in August
The National Bureau of Statistics (NBS) has reported a staggering 69.15 percent increase in the price of a 12.5kg cylinder of liquefied petroleum gas (LPG), commonly known as cooking gas, over the past year.
In its latest price watch for August 2024, the NBS noted that Nigerians paid an average of N15,552.56 for a 12.5kg cylinder, a significant rise from the N9,194.41 recorded in August 2023. Additionally, there was a month-on-month increase of 9.05 percent from July’s average price of N14,261.57.
In its state profile analysis, the NBS highlighted that Rivers State recorded the highest average retail price for refilling a 12.5kg cylinder at N17,086.36, followed closely by Cross River at N17,050 and Abia at N17,012.52.
In contrast, Bauchi State had the lowest average price at N13,425.00, with Nassarawa and Adamawa following at N13,640.94 and N13,725.00, respectively. Regionally, the South-South zone reported the highest average price at N16,524.00, while the North-Central zone had the lowest at N14,767.41.
The NBS also indicated that the average retail price for a 5kg cylinder of LPG rose by 7.62 percent from July to August 2024, increasing from N5,974.55 to N6,430.02. Year-on-year, this reflects a 56.25 percent increase from N4,115.32 in August 2023. In terms of state pricing, Benue and Sokoto recorded the highest average prices for a 5kg cylinder at N7,000.00, followed by Rivers at N6,954.55 and Borno at N6,914.29.
Conversely, the lowest average price for a 5kg cylinder was found in Taraba at N5,600.67, with Abuja and Kogi following at N5,825.00 and N5,857.56, respectively. The South-East region reported the highest average price for a 5kg cylinder at N6,585.18, while the South-South and North-Central zones recorded lower averages of N6,451.34 and N6,344.29, respectively.
