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Cooking Gas Increases 8.70% year-on -year

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cooking gas

CEM REPORT, ENERGY | The average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 2.79% on a month-on-month basis from N4,828.18 recorded in November 2023 to N4,962.87 in December 2023.

This is according to the Liquefied Petroleum Gas (Cooking Gas) Price Watch for December 2023 released recently by the Nigerian Bureau of Statistics

The report said that gas price increased by 8.70% year-on -year from N4,565.56 in December 2022.

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On state profile analysis, NBS said Adamawa recorded the highest average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N5,725.33, followed by Jigawa with N5,686.88, and Lagos with N5,671.05. On the other hand, Ebonyi recorded the lowest price with N4,071.43, followed by Imo and Abia with N4,088.24 and N4,155.88 respectively.

In addition, analysis by zone showed that the North-East recorded the highest average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N5,256.61, followed by the North-West with N5,144.50, while the South-East recorded the lowest retail price with N4,155.59. Also, the average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 3.18% on a month-on-month basis from N11,155.15 in November 2023 to N11,510.16 in December 2023.

On a year -on-year basis, the retail prices rose by 12.31% from N10,248.97 in December 2022. On state profile analysis, Cross River recorded the highest average retail price for the refilling of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N13,572.22, followed by Edo with N13,265.63 and Delta with N13,041.67.

Conversely, the lowest average price was recorded in Ebonyi with N10,142.86, followed by Imo and Anambra with N10,150.90 and N10,264.29 respectively. Analysis by zone showed that the South-South recorded the highest average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N12,700.14, followed by the North-Central with N11,585.89. In contrast the South-East recorded the lowest price with N10,632.14.

Cooking Gas Prices Today

As at the time of filling this report, CEM visit to some gas station shows that 12kg of gas sells for an average of N13,200.

[READ ALSO] Nigeria’s Non-Oil Export Slumps Despite Government’s Diversification Drive

According to information on NIG LPG website, dealers currently 20 Metric Tons of Gas currently at the rate of ₦15.6m price at 11 Plc LPG Depot (Lagos). At Rain Oil LPG Depot, 20 Metric Tons of Gas sells at ₦15,500,000.00

In 2022, Nigerian imported 800,000 tonnes of gas out of the 1.4 million tonnes consumed for the year while 600,000 tonnes was produced locally. Ironically, Nigeria exported 700,000 tonnes of LPG from the Chevron and ExxonMobil plants.

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