From N10, 545.87 in October 2023 to N16, 734.55 in October 2024, the price of a 12.5 kg cylinder of LPG increased by 58.68%Households already struggling financially and with rising inflation are further burdened by this hikeCustomers across the nation are experiencing the effects of the price increase, with some areas seeing price increases of over 45.8%
Henzodaily.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
The average retail price for refilling a 12.5 kg cylinder of LPG rose by 58.68% from N10, 545.87 in October 2023 to N16, 734.55 in October 2024.
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According to data sourced from the National Bureau of Statistics (NBS), this increase further burdens households already facing high inflation and financial difficulties.
Refilling a 5 kilogram cooking gas cylinder cost N6,915.69 on average in October, up 3.23 percent from N6,699.63 in September.
The gain is considerably greater on a year-over-year basis, rising 51.58 percent over the N4,562.51 reported in October 2023.
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In October, the average price increased 2.58 percent to N16, 734.55 from N16,313.43 in September.
Borno households are hardest hit, spending the most (N7,939) for a 5kg cylinder. Additionally, Rivers State leads the nation in sales of 12.5 kilogram cylinders, with average prices of N17,895.
Residents of Katsina, on the other hand, pay the lowest prices, paying N14,725 for a 12.5kg refill and N6,270 for a 5kg refill.
With prices rising by more than 45.8% in some places, consumers throughout the country are feeling the effects of the spike.
Uche Okafor said,
“With the continuous increase in price of gas, I am just really hoping that we wouldn’t buy a kg for 2k. I don’t want to imagine we will get to that point.”
Adewale Peter said,
“I have already gotten a charcoal stove. I intend to use it to complement my cooking gas so it lasts longer.”
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Price of cooking gas rises again
Henzodaily.ng reported that the price of cooking gas has again increased across markets in the country, a recent survey has found.
Consumers now buy cooking gas for N1,500 per kilogram compared to the average price of N1,340 it sold in october.
Those who recently filled their cylinders explained how they had to pay more than they had budgeted for to get the product.
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Source: Henzodaily.ng