The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, surged to N16,524 for a 12.5kg cylinder in the South-South geopolitical zone in August 2024, making it the highest in the country. According to data from the National Bureau of Statistics (NBS), this increase represents a 9.05% rise from July’s average of N14,261.57. Nationwide, the average price for 12.5kg of LPG stood at N15,552 in August.
Compared to the same period last year, the price of cooking gas has soared by 69.15%, from N9,194.41 in August 2023 to the current national average of N15,552.
Regional Breakdown
The South-South region, which includes states like Rivers and Cross River, recorded the highest prices for LPG. The average cost of a 12.5kg cylinder in this zone hit N16,500, closely followed by the South-East at N16,495.78. Prices in other regions were:
- South-West: N15,609
- North-West: N15,330
- North-East: N14,912
- North-Central: N14,767
State-by-State Analysis
In Rivers State, the price of refilling a 12.5kg cylinder reached N17,086.36, the highest in the country. Cross River followed closely at N17,050.00, and Abia State at N17,012.52. On the lower end, Bauchi State recorded the lowest price at N13,425.00, with Nassarawa and Adamawa offering prices of N13,640.94 and N13,725.00, respectively.
5kg Cooking Gas Price Hike
The cost of refilling a 5kg cylinder of LPG also increased by 7.62% month-on-month, rising from N5,974.55 in July 2024 to N6,430.02 in August. Year-on-year, the price jumped by 56.25%, compared to N4,115.32 in August 2023.
The South-East region led the 5kg LPG price hike, with an average of N6,585.18, followed by the South-South at N6,451.34. Other regions recorded the following prices:
- North-West: N6,420
- North-East: N6,413
- South-West: N6,406
- North-Central: N6,344
State-by-State 5kg Prices
Benue and Sokoto recorded the highest price for refilling a 5kg cylinder at N7,000.00, with Rivers following at N6,954.55, and Borno at N6,914.29. Taraba had the lowest price at N5,600.67, followed by Abuja at N5,825.00 and Kogi at N5,857.56.
The August price increase for 5kg cooking gas came after two months of declining prices in June and July, where prices dropped from N7,418 in June to N5,974 in July. However, fluctuations in the market have resulted in varying prices over the months.
