In February 2024, the expense of refilling a 5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) surged to N6,154.50, a significant increase of N1015.25 (19.75%) from January 2023’s price of N5,139.25. This marked a N1,553.93 (33.78%) surge from the price of N4,600.57 in February 2023.
Regional Disparities in Cooking Gas Prices
Analyzing prices across states, Lagos recorded the highest average cost for refilling a 5kg cylinder of Cooking Gas at N6,820.00, followed closely by Imo at N6,785.71 and Anambra at N6,750.00. Conversely, Yobe reported the lowest recorded price at N4,912.50, with Kebbi and Adamawa following at N5,350.00 and N5,385.00, respectively.
Regionally, the South-East had the highest average retail price, N6,616.57, for refilling a 5kg gas cylinder, followed by the South-West, at N6,513.30. In contrast, the North-Central region reported the lowest average price, N5,723.02.
12kg LPG Costs Spike
The price to refill a 12.5kg cylinder of Cooking Gas witnessed a notable month-on-month increase of 28.33%, rising from N11,735.72 in January 2024 to N15,060.38 in February 2024. Year-on-year marked a substantial 46.88% hike from N10,253.39 in February 2023.
State and Regional Price Trends
Ogun reported the highest average cost for refilling a 12.5kg cylinder at N16,375.00, Delta at N16,333.33, and Edo at N16,321.43. Conversely, Bauchi recorded the lowest average price at N13,167.50, with Katsina and Yobe closely behind.
Regionally, the South-East led with the highest average price for refilling a 12.5kg gas cylinder at N15,954.60, closely trailed by the South-South at N15,943.40. In contrast, the Northeast reported the lowest regional price at N14,035.88.
The sharp increase in Cooking Gas prices underscores the growing financial burden on households across Nigeria, necessitating measures to mitigate the impact on consumers.
