LPG: 12kg cooking gas price soars 55% in one year — NBS
The National Bureau of Statistics (NBS) has reported a significant increase in the cost of liquefied petroleum gas (LPG), commonly known as cooking gas.
According to the latest LPG price watch for July, the average cost of refilling a 12.5-kilogram (kg) cylinder rose by 55.66 percent compared to the previous year. In July 2024, the average price for a 12.5kg cylinder was N14,261.57, up from N9,162.11 in July 2023.
The NBS noted a month-on-month decrease of 9.37 percent in the average retail price, with July’s figure at N14,261.57 compared to N15,736.27 in June 2024. However, when compared year-on-year, this represents a 55.66 percent increase from N9,162.11 in July 2023.
The report highlights regional price variations, with Gombe recording the highest average price of N15,872.22 for a 12.5kg cylinder, followed by Yobe at N15,823.32 and Taraba at N15,625.00. Conversely, Bauchi reported the lowest average price at N13,314.47, with Enugu and Nasarawa at N13,411.39 and N13,413.81, respectively.
Regionally, the north-east had the highest average retail price at N15,075.16, followed by the north-west at N14,454.86 and the north-central at N13,611.68.
Additionally, the average cost of refilling a 5kg cylinder of cooking gas decreased by 14.23 percent from June 2024 to July 2024, with the price falling from N6,966.03 to N5,974.55. However, this figure represents a year-on-year increase of 46.69 percent from N4,072.87 in July 2023.
