Price of Cooking Gas Rises Again as Nigerians Grapple With Hardship

• A recent survey has shown that cooking gas prices have gone up once more in of the nation's markets
• The average price of cooking gas sold the previous week was N1,340, but consumers now pay N1,500 per kilogram.
• the National Bureau of Statistics data showed that the average cost of refilling a 12.5 kg cylinder rose by 2.58% in october

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The price of cooking gas has again increased across markets in the country, a recent survey has found.

Consumers now buy cooking gas for N1,500 per kilogram compared to the average price of N1,340 it sold in october.

Those who recently filled their cylinders explained how they had to pay more than they had budgeted for to get the product.

Dunsin Ayomide said,

“Today, I bought cooking gas for N1,500 per kg whereas I filled it last for N1,400 last month. The frequent adjustments makes it difficult to make plans.”

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Alade Jeffery said,

“I paid N9,000 refilling a 6 kg cylinder. The same amount could have filled more just some months ago.”

NBS releases cooking gas price

The average cost of refilling a 12.5 kg cylinder of Liquefied Petroleum Gas (LPG), often known as cooking gas, rose by 2.58% month over month from N16,313.43 in September 2024 to N16,734.55 in October 2024, according to data released by the National Bureau of Statistics (NBS).

The cooking gas price watch report from NBS showed that the price rose by 58.68% year over year from N10,545.87 in October 2023.

According to a state analysis, the average price for a 12.5 kg cylinder is N17,895.00 in Rivers State, N17,739.06 in Osun, and N17,731.25 in Benue. The lowest price is N14,725.00 in Katsina, N15,390.55 in Nasarawa, and N15,474.21 in Adamawa.

Refilling a 12.5 kilogram cylinder costs the most in the South-South region (N17,114.67), followed by the South-East (N16,906.19), according to regional data. At N16,411.19, the North-Central area has the lowest average price.

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Dealers announce new cooking gas price

Legit.ng reported that A new survey has found that the retail pricing of Liquefied Petroleum Gas (LPG) varied significantly throughout Nigerian cities in October 2024, indicative of the distinct supply-demand dynamics and logistical considerations that each area faces.

The impact of regional distribution costs, infrastructure quality, and perhaps the degree of market competition is highlighted by the volatility in LPG pricing.

Reducing these pricing differences through enhanced accessibility and supply chains may increase the availability of reasonably priced LPG throughout Nigeria.

Source: Legit.ng