Cost of Cooking Gas Increases Again as Data Shows States With Highest Prices

• Nigerians once again faced higher costs when refilling their cooking gas, adding more pressure to households across the country
• New data from the NBS reveals that the average prices for both 5kg and 12.5kg cylinders of cooking gas increased in March 2024
• These prices varied across different states, with residents in some states paying higher prices compared to others

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The National Bureau of Statistics has revealed that the average price for refiling a 5kg Liquefied Petroleum Gas (Cooking Gas) cylinder in Nigeria stood at N6,591.62 in March 2024.

This represents a 7.10% increase compared to the N4,562.51 average price recorded in February 2024, which was N6,154.50,.

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While on a year-on-year basis, cooking gas prices increased by 42.97% from N4,610.48 paid in March 2023.

Also, NBS said that Nigerians, on average, paid N15,929.04 in March 2024 to refill a 12.5kg their cooking gas cylinder.

This is an increase of 5.77% on a month-on-month basis from N15,060.38 in February 2024 to N15,929.04 in March 2024.

While on a year-on-year basis, this rose by 55.22% from N10,262.56 in March 2023, Punch reports.

States with the highest average prices (5kg):

• Kano: N7,609.00
• Ogun: N7,363.64
• Akwa Ibom: N7,162.50

States with the lowest average prices (5kg):

• Adamawa: N5,312.50
• Taraba: N5,375.00
• Zamfara: N5,550.00

States with the highest average prices (12.5kg):

• Sokoto: N17,833.33
• Osun: N17,588.46
• Anambra: N17,417.65

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States with the lowest average prices (12.5kg):

• Katsina: N12,400.00
• Kebbi: N13,137.50
• Bauchi: N14,484.25

Marketers addresses cabal behind rising gas price

Legit.ng reported that Cooking gas marketers under the Nigerian Association of Liquified Petroleum Gas Marketers (NALPGAM) accused the Liquified Petroleum Gas (LPG) terminal operators of causing the country's high cooking gas cost.

Oladapo Olatubosun, the association's president, disclosed this when they met the Senate Committee on Gas in the company of the group members on Monday, October 23, 2023.

The commodity's price recently increased to N1,200 per kilogram, with many Nigerians lamenting its high cost amid surging inflation and high living standards.

Source: Legit.ng