A new report by the National Bureau of Statistics, (NBS), has shown that the price of cooking gas recorded an increase in October 2024.
According to the NBS, the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) increased by 3.23% on a month-on-month basis from ?6,699.63 recorded in September 2024 to ?6,915.69 in October 2024.
The cooking gas price also increased on a yearly basis, surging from ?4562.51 in October 2023, to ?6915 in October 2024. This represents a 51.58% increase.
According to the report, Borno recorded the highest average price for refilling a 5kg cylinder, at ?7,939.29, followed by Yobe, with ?7,580.00, and Benue, with ?7,578.00. Katsina State recorded the lowest price, with N6,270.00, followed by Zamfara and Delta with ?6,410.71 and ?6,427.78 respectively.
The report also noted that the North-East region recorded the highest average retail price for refilling a 5kg cylinder of cooking gas with ?7,319.03, followed by the South-West with ?6,961.58 while the North-West region recorded the lowest with ?6,703.95.
Also, the average retail price for refilling a 12.5kg cylinder of cooking gas increased by 2.58% on a month-on-month basis from ?16,313.43 in September 2024 to ?16,734.55 in October 2024.
Rivers State recorded the highest average retail price for the refilling of a 12.5kg cylinder of cooking gas, with ?17,895.00, followed by Osun, with ?17,739.06 and Benue, with ?17,731.25. The lowest average price was recorded in Katsina, with ?14,725.00, followed by Nasarawa and Adamawa, with ?15,390.55 and ?15,474.21 respectively.
On zonal level, South-South recorded the highest average retail price for refilling a 12.5kg cylinder of cooking gas with ?17,114.67, followed by the South-East, with ?16,906.01, while the North-Central recorded the lowest price, with ?16,411.19.
Nigerians are feeling the pinch as prices of essential items like cooking gas and petroleum continue to rise, affecting the country’s economy.
