12.5kg cylinder of cooking gas rose to N15,060.38 in February 2024, a significant surge from N10,253.39

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12.5kg cylinder of cooking gas rose to N15,060.38 in February 2024

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By Kenneth Udoakpan

According to the latest report from the National Bureau of Statistics (NBS) on the LPG (Cooking Gas) Price Watch for February, the average price for refilling a 12.5kg cylinder of liquefied petroleum gas (LPG), commonly known as cooking gas, has experienced a substantial increase of 46.88 percent on a year-on-year basis.

The data reveals that the average retail price for refilling a 12.5kg cylinder of cooking gas rose to N15,060.38 in February 2024, a significant surge from N10,253.39 recorded in February 2023. Furthermore, the average price saw a monthly increase of 28.33 percent, climbing from N11,735.72 in January 2024 to N15,060.38 in February 2024.

The NBS report highlights regional disparities in the average retail prices for refilling a 12.5kg cylinder of LPG. Ogun State recorded the highest average price at N16,375.00, followed by Delta at N16,333.33, and Edo at N16,321.43. Conversely, the lowest average price was observed in Bauchi at N13,167.50, with Katsina and Yobe following closely at N13,562.50 and N13,610.00, respectively.

On a zonal basis, the South-East region recorded the highest average retail price for refilling a 12.5kg cylinder of LPG at N15,954.60, trailed by the South-South region at N15,943.40. The North-East region, on the other hand, registered the lowest average price at N14,035.88.

The report also sheds light on the average retail price for refilling a 5kg cylinder of LPG. On a month-on-month basis, the price increased by 19.75 percent, rising from N5,139.25 in January 2024 to N6,154.50 in February 2024. Compared to the previous year, this represents a 33.78 percent increase from N4,600.57 recorded in February 2023.

Regionally, Lagos State recorded the highest average price for refilling a 5kg cylinder of LPG at N6,820.00, followed by Imo at N6,785.71, and Anambra at N6,750.00. Conversely, Yobe State had the lowest price at N4,912.50, with Kebbi and Adamawa following at N5,350.00 and N5,385.00, respectively.

The South-East region again topped the zonal rankings, recording the highest average retail price for refilling a 5kg cylinder of LPG at N6,616.57, closely followed by the South-West at N6,513.30. The North-Central region recorded the lowest average price at N5,723.02.

The NBS report highlights the significant escalation in cooking gas prices across Nigeria, underscoring the strain on household budgets and the potential implications for energy affordability and access

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