LPG price increases by 69% in August

The average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 69.15% from N9,194.41 in August 2023 to N15,552.56 in August 2024, on a year-on-year basis.

According to the National Bureau Of Statistics (NBS), It also increased by 9.05% on a month-on-month basis from N14,261.57 in July 2024.

The average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 56.25% in August 2024, from N4,115.32 to N6,430.02 on a year-on-year basis.

On a month-on-month basis, it increased by 7.62% from N5,974.55 recorded in July 2024 to N6,430.02 in August 2024.

“On state profile analysis, Benue and Sokoto recorded the highest average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N7,000.00, followed by Rivers with N6,954.55, and Borno with N6,914.29.

“On the other hand, Taraba recorded the lowest price with N5,600.67, followed by Abuja and Kogi with N5,825.00 and N5,857.56 respectively. In addition, analysis by zone showed that the South-East recorded the highest average retail price for refilling a 5kg Cylinder of Liquefied.

Petroleum Gas (Cooking Gas) with N6,585.18, followed by the South-South with N6,451.34 while the North-Central recorded the lowest with N6,344.29.

“Also, the average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 9.05% on a month-on-month basis from N14,261.57 in July 2024 to N15,552.56 in August 2024. On a year-on-year basis, this rose by 69.15% from N9,194.41 in August 2023.

“On state profile analysis, Rivers recorded the highest average retail price for the refilling of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N17,086.36 followed by Cross River with N17,050.00 and Abia with N17,012.52. Conversely, the lowest average price was recorded in Bauchi with N13,425.00, followed by Nassarawa and Adamawa with N13,640.94 and N13,725.00 respectively.”