In February 2024, the cost to refill a 5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) rose to N6,154.50, marking a N1015.25 (19.75%) increase from January 2023’s price of N5,139.25. Comparing year-on-year, there was a N1,553.93 (33.78%) surge from the price of N4,600.57 in February 2023.
In the state-by-state analysis, Lagos had the highest average cost for refilling a 5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) at N6,820.00, with Imo at N6,785.71 and Anambra at N6,750.00 trailing closely behind.
Conversely, Yobe had the lowest recorded price at N4,912.50, with Kebbi and Adamawa next in line, having prices of N5,350.00 and N5,385.00, respectively.
Furthermore, regional analysis indicated that the South-East had the highest average retail price at N6,616.57 for refilling a 5kg gas cylinder, followed by the South-West at N6,513.30, while the North-Central region had the lowest average price at N5,723.02.
The price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) saw a month-on-month increase of 28.33%, rising from N11,735.72 in January 2024 to N15,060.38 in February 2024. Compared to the previous year, there was a 46.88% hike from N10,253.39 in February 2023.
In terms of state prices, Ogun had the highest average cost at N16,375.00, followed by Delta at N16,333.33, and Edo at N16,321.43.
On the lower end, Bauchi had the smallest average price at N13,167.50, with Katsina and Yobe close behind at N13,562.50 and N13,610.00, respectively.
Regionally, the South-East led with the highest average price for refilling a 12.5kg gas cylinder at N15,954.60, with the South-South nearly matching at N15,943.40. The North-East, however, had the lowest regional price at N14,035.88.
