The average retail price for refilling a 5kg Liquefied Petroleum Gas (LPG) cylinder, commonly known as cooking gas, has surged by 70.12% year-on-year, reaching N7,418.45 in May 2024 compared to N4,360.69 in May 2023, according to the National Bureau of Statistics (NBS).
Month-on-month, the price rose by 13.75% from N6,521.58 in April 2024. Benue recorded the highest average price for a 5kg refill at N8,012.03, while Yobe had the lowest at N5,842.31. Regionally, the South-East had the highest average price at N7,680.87, with the North-East recording the lowest at N7,071.84.
The report also highlighted the increase in the average retail price for refilling a 12.5kg LPG cylinder, which rose by 63.85% year-on-year to N15,627.40 in May 2024 from N9,537.89 in May 2023. However, there was a slight month-on-month decline of 0.07% from N15,637.74 in April 2024. Zamfara reported the highest average price for refilling a 12.5kg cylinder at N18,369.33, while Bauchi had the lowest at N13,076.43. The South-South region had the highest average price for a 12.5kg refill at N16,310.02, and the North-East had the lowest at N15,010.62.
This significant increase in LPG prices reflects the broader economic challenges facing Nigerian households, particularly in urban and high-demand regions.
Source: THE GUARDIAN