In August 2024, the price of a 12.5kg cooking gas cylinder in Nigeria surged to an average of ₦15,552.56, a 69.15% increase from the previous year. The National Bureau of Statistics also reported rising prices for 5kg cylinders, highlighting ongoing economic challenges for consumers.
In August 2024, the price of a 12.5kg cylinder of liquefied petroleum gas (LPG), commonly known as cooking gas, surged to an average of ₦15,552.56 in Nigeria, reflecting a staggering 69.15% increase compared to ₦9,194.41 in August 2023. The National Bureau of Statistics (NBS) reported that the price also rose by 9.05% from July 2024, when it stood at ₦14,261.57.
Regionally, Rivers State reported the highest average price for refilling a 12.5kg cylinder at ₦17,086.36, followed closely by Cross River at ₦17,050 and Abia at ₦17,012.52. Conversely, Bauchi had the lowest average price at ₦13,425.00, with Nassarawa and Adamawa at ₦13,640.94 and ₦13,725.00, respectively.
The NBS also noted a significant increase in the price of 5kg LPG cylinders, which rose to ₦6,430.02, marking a 7.62% increase month-on-month and a 56.25% rise year-on-year from ₦4,115.32 in August 2023. Benue and Sokoto had the highest prices for 5kg cylinders at ₦7,000.00, while Taraba recorded the lowest at ₦5,600.67. The price fluctuations have raised concerns among consumers as the nation grapples with rising living costs amid ongoing economic challenges.
