Cooking gas price rises by 71.23% – NBS

The national average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has surged by 71.23 percent on a year-on-year basis, rising to N6,996.03 in June 2024 from N4,068.26 in the corresponding period of 2023.

However, on a month-on-month basis, the average retail price decreased by 6.10 percent from N7,418.45 recorded in May 2024.

According to the National Bureau of Statistics (NBS) report on Liquefied Petroleum Gas (Cooking Gas) Price Watch for June 2024, Osun State topped the price chart for refilling a 5kg cylinder at N7,800.00, followed by Edo at N7,750.00, and Ebonyi at N7,590.79.

Conversely, the states with the lowest prices were Yobe at N6,062.50, Jigawa at N6,144.44, and Anambra at N6,338.75.

Regional analysis showed that the South-West recorded the highest average retail price for refilling a 5kg cylinder of gas at N7,241.67, followed by the North-Central at N7,096.51, while the North-West recorded the lowest at N6,660.20.

In addition, the average retail price for refilling a 12.5kg cylinder of cooking gas increased by 0.70 percent on a month-on-month basis from N15,627.40 in May 2024 to N15,736.27 in June 2024. On a year-on-year basis, this price rose by 72.49 percent from N9,123.25 in June 2023.

State profile analysis revealed that Cross River, Kaduna, and Abia states recorded the highest average retail prices for refilling a 12.5kg cylinder of gas at N16,888.89, N16,754.69, and N16,708.33, respectively. The lowest average price was recorded in Bauchi State at N13,450.00, followed by Taraba State at N13,950.00, and Kogi State at N14,455.38.

Regional analysis showed that the South-South recorded the highest average retail price for refilling a 12.5kg cylinder of LPG at N16,272.94, followed by the South-East at N15,925.96, while the North-East recorded the lowest price at N15,104.26.

Additionally, the average retail price per litre of Household Kerosene (HHK) increased year-on-year by 27.73 percent to N1,555.11 per litre in June 2024 from N1,236.91 per litre recorded in the corresponding period of 2023. On a month-on-month basis, the average price increased by 7.22 percent from N1,450.35 recorded in May 2024.

The NBS report on National Household Kerosene Price Watch for June 2024 showed that Kaduna State had the highest average price for kerosene at N2,072.92 per litre, followed by Benue at N2,038.99, and Zamfara at N1,833.33. The lowest price was recorded in Kebbi State at N1,248.15, followed by Taraba at N1,277.60, and Sokoto at N1,300.00.

Regional analysis indicated that the North-Central recorded the highest average retail price per litre of Household Kerosene at N1,686.97, followed by the North-West at N1,589.68, while the North-East recorded the lowest at N1,416.13.