See more as dealers increase cooking gas prices again, worst in 10 states

1 month ago 58

A new report by the NBS has revealed that the national average price of refilling cooking gas increased again
The new prices for 5kg and 12.5kg brings more headache to families already battling with high cost of living
The report revealed that Rivers, Gombe, and Zamfara states had the lowest price to refill cooking gas price

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The National Bureau of Statistics has revealed that the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) increased to N6,699.63 in September 2024.

This represents a 4.19% month-on-month increase from N6,430.02 recorded in August 2024 and a 59.90% year-on-year increase from N4,189.96 in September 2023.

NBS stated this in its latest PMS price watch report published on its website, which was analysed by Legit.ng.

Also, NBS revealed that the average retail price for refilling a 12.5kg cylinder of cooking gas increased by 4.89% on a month-on-month basis from N15,552.56 in August 2024 to N16,313.43 in September 2024.

On a year-on-year basis, this rose by 76.41% from N9,247.40 in September 2023.

Cooking Gas prices differ by states

The bureau's state profile analysis revealed that Rivers has the highest average price for refilling a 5kg cooking gas at N7,285.71, followed closely by Gombe at N7,271.88 and Borno at N7,089.72.

In contrast, Kebbi recorded the lowest price at N5,950.00, with Kano and Benue following at N6,133.33 and N6,143.52, respectively, according to Punch reports.

Additionally, regional analysis indicated that the North-East had the highest average retail price for refilling a 5kg cooking gas at N6,929.02, while the South-East followed with N6,893.47.

The North-West recorded the lowest average price at N6,382.30.

For the refilling of a 12.5kg cooking gas, Rivers also topped the list with the highest average retail price of N17,992.86, followed by Gombe at N17,942.86 and Zamfara at N17,475.00.

Conversely, Adamawa recorded the lowest average price at N13,983.33, with Nassarawa and Bauchi following at N14,938.50 and N15,000.00, respectively.

Analysis by zone showed that the South-East recorded the highest average retail price for refilling a 12.5kg with N16,957.29, followed by the South-West with N16,665.45 while the North-East recorded the lowest price with N15,770.75.

Ten most expensive states to buy cooking gas

Here are the 10 states with the highest cooking has prices.

5kg

Rivers: N7,285.71
Gombe: N7,271.88
Borno: N7,089.72
Anambra: N7,083.33
Taraba: N7,075.00
Lagos: N6,975.00
Edo: N6,968.75
Oyo: N6,953.13
Yobe: N6,900.00
Imo: N6,888.24

12.5kg

Rivers: N17,992.86
Gombe: N17,942.86
Zamfara: N17,475.00
Anambra: N17,291.67
Edo: N17,271.88
Osun: N17,159.09
Enugu: N17,053.57
Imo: N17,011.76
Abuja: N17,001.25
Cross River: N16,965.63

Marketers identify cabal behind the rising price of cooking gas

Legit.ng earlier reported that cooking gas marketers, under the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), have blamed Liquefied Petroleum Gas (LPG) terminal operators for the high cost of cooking gas in the country.

Oladapo Olatubosun, the association's president, disclosed this when they met the Senate Committee on Gas in the company of the group members.

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Source: Legit.ng

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