According to the National Bureau of Statistics (NBS), in August, the average price of a 12.5kg cylinder of Liquefied Petroleum Gas (cooking gas) in the South-South geopolitical zone hit N16,524. This figure is significantly higher than the national average of N15,552, which reflects a monthly increase of 9.05% from N14,261.57 in July 2024.
Year-on-year, the price of LPG has surged by 69.15%, rising from N9,194.41 in August 2023 to the current average. The South-South recorded the highest price among the regions, followed closely by the South-East at N16,495.78. Here are the average prices across other regions:
- South-West: N15,609
- North-West: N15,330
- North-East: N14,912
- North-Central: N14,767
State-Specific Prices
In a detailed state analysis, Rivers State reported the highest average retail price for refilling a 12.5kg gas cylinder at N17,086.36. Cross River followed this at N17,050.00 and Abia at N17,012.52. Conversely, Bauchi had the lowest average price at N13,425.00, with Nassarawa and Adamawa at N13,640.94 and N13,725.00, respectively.
Price of 5kg Cooking Gas
The average retail price for a 5kg cooking gas cylinder also increased, rising by 7.62% from N5,974.55 in July 2024 to N6,430.02 in August 2024. This represents a year-on-year increase of 56.25% from N4,115.32 in August 2023. The South-East recorded the highest price for 5kg gas at N6,585.18, followed by the South-South at N6,451.34. Prices in other regions are as follows:
- North-West: N6,420
- North-East: N6,413
- South-West: N6,406
- North-Central: N6,344
In terms of state averages, Benue and Sokoto reported the highest prices for refilling a 5kg cylinder, N7,000.00, followed by Rivers at N6,954.55 and Borno at N6,914.29. Taraba had the lowest price, N5,600.67, with Abuja and Kogi at N5,825.00 and N5,857.56, respectively.
The rise in the average price of 5kg cooking gas in August follows two months of declines in June and July. The price dropped from N7,418 in June to N6,966 and then further to N5,974 in July, reflecting the recent fluctuations.
