Cooking Gas In Niger Delta Reaches ₦16,500, The Highest In Nigeria

The average price of a 12.5kg Liquefied Petroleum Gas (cooking gas) in the South-south geopolitical zone reached N16,524 in August according to data from the National Bureau of Statistics (NBS).

The NBS Liquefied Petroleum Gas (LPG) watch for August reveals that the average price of 12.5kg cooking gas in the country stood at N15,552.

This represents a monthly increase of 9.05% from N14,261.57 in July 2024.

When compared on a year-on-year basis, the average price of LPG across the country has risen by 69.15% from N9,194.41 in August 2023 to the current figure.

The South-South region recorded the highest price of 12.5kg cooking gas across the country at N16,500 followed by the South-East with N16,495.78. The average price of 12.5kg cooking gas across other regions are;

South-west- N15,609
North-west- N15,330
North-east- N14,912
North-central- N14,767
In a state profile analysis, Rivers recorded the highest average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (cooking gas) at N17,086.36, followed by Cross River at N17,050.00 and Abia at N17,012.52.

On the other hand, Bauchi had the lowest average price at N13,425.00, with Nassarawa and Adamawa following at N13,640.94 and N13,725.00, respectively.

Price of 5kg cooking gas
The average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) rose by 7.62% month-on-month, from N5,974.55 in July 2024 to N6,430.02 in August 2024. Year-on-year, the price saw a 56.25% increase from N4,115.32 in August 2023.

Across geopolitical zone, the South-east recorded the highest price of 5kg cooking gas in August 2024 at N6,585.18 followed by the South-south region where the average price stood at N6,451.34. The prices across the other four geo-political zone are;

North-west- N6,420
North-east- N6,413
South-west- N6,406
North-central- N6,344
In the state profile analysis, Benue and Sokoto recorded the highest average price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) at N7,000.00, followed by Rivers at N6,954.55 and Borno at N6,914.29. However, the lowest price was recorded in Taraba at N5,600.67, with Abuja and Kogi following at N5,825.00 and N5,857.56, respectively.

The increase in the average price of 5kg cooking gas in August comes after a significant drop in two consecutive months leading up to August- June and July. In June, the average price of 5kg cooking gas fell from N7,418 to N6,966.

Also, prices fell further in July from N6,966 in June to N5,974 in July mirroring fluctuations that have characterised the market in the past months.

Source:- Nairametrics