The price of Liquefied Petroleum Gas, or cooking gas, has risen to N1,300/Kg this month, up 8.3 percent month on month from N1,200 in July. Similarly, the price of 5kg cooking gas has risen by 8.3 percent to N6,500 from the N6,000 sold in July 2024.
Mr. Olatunbosun Oladapo, National President of the Nigeria Association of Liquefied Petroleum Gas Marketers, NALPGAM, said, “We are aware of the recent increase as gas prices are influenced by exchange rates, but hopefully the price should drop by the end of the month, and we will review and observe what the price will be for the month, but I can say that the price is currently dropping gradually.”
Meanwhile, the National Bureau of Statistics’ (NBS) recent report on Liquefied Petroleum Gas (Cooking Gas) Price Watch for July 2024 revealed that the average retail price for refilling a 5kg cylinder declined by 14.23%, MoM, to N5,974.55 in July 2024 from N6,996.03 in June.
According to the study, this grew by 46.96 percent year on year (YoY) from N4,072.87 in July 2023. Based on state profile study, Borno state had the highest average price for refilling a 5kg cylinder at N7,088.59, followed by Yobe and Sokoto states at N6,935.50 and N6,750.00, respectively.
“On the other hand, Delta state had the lowest price of N5,392.86, followed by Zamfara and Kogi states at N5,431.25 and N5,560.63, respectively.
Furthermore, analysis by zone revealed that the North-East had the highest average retail price for refilling a 5kg cylinder of cooking gas at N6,446.53, followed by the North-Central at N6,042.33, and the South South at N5,654.04.
