Cooking Gas Price Soars: 5kg Cylinder Hits N6,430 in August – NBS
September 23, 2024
By Okafor Joseph
The average price of refilling a 5kg cooking gas cylinder rose to N6,430.02 in August, marking an increase from the N5,974.55 recorded in July, according to the National Bureau of Statistics (NBS). This 7.62 percent rise was disclosed in the NBS’s “Cooking Gas Price Watch” report, released on Sunday in Abuja.
The report also revealed a sharp year-on-year increase of 56.25 percent, as the price stood at N4,115.32 in August 2023.
In the state-by-state analysis, Benue and Sokoto reported the highest average price for refilling a 5kg cylinder at N7,000.00. Rivers followed with N6,954.55, and Borno trailed slightly at N6,914.29. Meanwhile, Taraba recorded the lowest price at N5,600.67, with Abuja and Kogi trailing at N5,825.00 and N5,857.56 respectively.
A zonal breakdown showed the South-East recorded the highest average price at N6,585.18, followed by the South-South at N6,451.34, while the North-Central zone had the lowest at N6,344.29.
Additionally, the report highlighted that the price of refilling a 12.5kg cylinder of cooking gas rose by 9.05 percent month-on-month, jumping from N14,261.57 in July to N15,552.56 in August. Year-on-year, this increase was even steeper, with the price rising 69.15 percent from N9,194.41 in August 2023.
Rivers recorded the highest price for a 12.5kg cylinder at N17,086.36, followed by Cross River at N17,050.00 and Abia at N17,012.52. Conversely, Bauchi reported the lowest price at N13,425.00, with Nassarawa and Adamawa close behind at N13,640.94 and N13,725.00, respectively.
By zone, the South-South region saw the highest average price for refilling a 12.5kg cylinder at N16,524.00, followed closely by the South-East at N16,495.78. The North-Central zone recorded the lowest price, with an average of N14,767.41.
This continuous rise in cooking gas prices highlights the mounting cost of living challenges across the country.
