The price of cooking gas saw a 69% increase in August 2024, despite improvements in supply. According to the National Bureau of Statistics (NBS), the average retail price of liquefied petroleum gas (LPG) rose from N14,261.57 in July to N15,552. On a year-on-year basis, the cost of a 12.5kg cylinder surged by 69%, up from N9,194.41 in August 2023. Additionally, the price for refilling a 5kg gas cylinder increased by 56.25%, from N4,115.32 to N6,430.02.
States like Benue and Sokoto recorded the highest average price for refilling a 5kg cylinder at N7,000, while Taraba had the lowest at N5,600.67. Zone-wise, the South-East had the highest retail prices for 5kg refills, followed by the South-South region.
Rivers, Cross River, and Abia recorded the highest prices for 12.5kg refills, while Nasarawa and Adamawa had the lowest. Many Nigerians, including residents of Abuja, have expressed concern over the rising cost of LPG, calling on the government to take swift action to ease the financial burden on households.