In February 2024, the cost of refilling a 5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) surged to N6,154.50, marking a significant increase of N1015.25 (19.75%) from January 2023’s price of N5,139.25. Comparing year-on-year figures, there was a substantial surge of N1,553.93 (33.78%) from February 2023’s price of N4,600.57.
State And Regional Price Variations
Analyzing prices across different states, Lagos recorded the highest average cost for refilling a 5kg gas cylinder at N6,820.00, closely followed by Imo at N6,785.71 and Anambra at N6,750.00. In contrast, Yobe reported the lowest recorded price at N4,912.50, with Kebbi and Adamawa following closely at N5,350.00 and N5,385.00, respectively.
Regionally, the South-East exhibited the highest average retail price at N6,616.57 for refilling a 5kg gas cylinder, trailed by the South-West at N6,513.30. Conversely, the North-Central region reported the lowest average price at N5,723.02.
12kg LPG Price Analysis
The price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) witnessed a substantial month-on-month increase of 28.33 per cent, soaring from N11,735.72 in January 2024 to N15,060.38 in February 2024. Compared to the previous year, there was a notable surge of 46.88 per cent from February 2023’s price of N10,253.39.
State And Regional Price Dynamics
Ogun reported the highest average cost for refilling a 12.5kg gas cylinder at N16,375.00, closely followed by Delta at N16,333.33 and Edo at N16,321.43. On the other end, Bauchi reported the lowest average price at N13,167.50, with Katsina and Yobe following closely 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, closely followed by the South-South at N15,943.40. In contrast, the North-East reported the lowest regional price at N14,035.88.
