The cost of cooking gas, known as Liquefied Petroleum Gas (LPG), has soared to unprecedented heights, recording a staggering 38% increase on a month-on-month basis. According to recent data, the price surge has seen a 12.5kg cylinder of cooking gas reach a jaw-dropping N16,250, compared to N11,735.72 just a month prior in January 2024.
In tandem with this surge, the price of a single kilogram of gas has skyrocketed by 37%, jumping from N950 to N1,300 within the same timeframe.
The latest report from the Nigeria Bureau of Statistics (NBS) Liquefied Petroleum Price Watch for January 2024 paints a bleak picture, indicating a 3.55% month-on-month increase in the average retail price for refilling a 5kg cylinder of cooking gas. The price has surged to N5,139.25 from N4,952.87 in December 2023.
On a year-on-year basis, the 5kg cylinder price has witnessed a substantial 12% increase, climbing to N5,139.25 in January 2024 from N4,588.75 during the same period in 2023.
Most Parts of Plateau State has been hit hardest by the gas price surge, recording the highest average price for refilling a 5kg cooking gas cylinder at N6,500.00. Jigawa State closely follows with N5,681.82, while Gombe State trails behind at N5,660.00.
Conversely, Kaduna State offers a glimmer of relief amidst the surge, boasting the lowest price at N4,150.00. Ogun and Osun States also provide some respite with prices at N4,751.04 and N4,763.53, respectively.
Experts warn that the alarming increase in cooking gas prices is likely to further strain the finances of an already burdened populace, exacerbating the ongoing battle against inflation.
