Dealers Crash Cooking Gas Prices, Report Shows Cheapest States To Refill 12.5kg, 5kg

• The NBS has revealed that refilling cooking gas in Nigeria has reduced, and dealers are quoting new prices
• The reduction is compared to the amount paid in the previous month by Nigerians for refilling a 5kg and 12.5kg cylinder
• Residents of Borno recorded the highest average price for refilling a 5kg cylinder, while the lowest price was recorded for 12.5kg in Kwara

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 refilling a 5kg Liquefied Petroleum Gas (cooking gas) cylinder in Nigeria decreased to N5,974.55 in July 2024.

This marks a 14.23% reduction on a month-on-month basis when compared to the average price of N6,966.03 recorded in June 2024.

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The bureau also showed that on a year-on-year basis, 5kg cooking gas prices increased by 46.69% from N4,072.87 in July 2023.

Also, dealers crashed the average price to refill 12.5kg of cooking gas to N14,261.57 in July 2024.

The amount paid in July was 9.37% lower on a month-on-month basis compared to N15,736.27 Nigerians paid in June 2024.

On a year-on-year basis, the July 2024 price represents an increase of 55.66% from N9,162.11 in July 2023.

The NBS gave the figures in its latest price watch report published on its website and analysed by Legit.ng.

States with the highest average prices (5kg):

Borno: N7,088.59

Yobe: N6,935.50

Sokoto: N6,750.00

States with the lowest average prices (5kg):

Delta: N5,392.86

Zamfara: N5,431.25

Kogi: N5,560.63

States with the highest average prices (12.5kg):

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Gombe: N15,872.22

Yobe: N15,823.32

Taraba: N15,625.00

States with the lowest average prices (12.5kg):

Kwara: N13,314.47

Enugu: N13,411.39

Nassarawa: N13,413.81

Marketers identify cabal behind the rising price of cooking gas

Meanwhile, Legit.ng previously reported that marketers under the Nigerian Association of Liquified Petroleum Gas Marketers (NALPGAM) have 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.

Proofreading by Nkem Ikeke, journalist and copy editor at Legit.ng.

Source: Legit.ng