By Joke Kujenya
THE PRICE of cooking gas in Nigeria experienced mixed trends in June 2024 according to the Liquefied Petroleum Gas (LPG) price watch report for June 2024.
The average cost to refill a 5kg cylinder of LPG decreased by 6.10% from N7,418.45 in May 2024 to N6,966.03 in June 2024.
However, when compared to June 2023, there was a significant year-on-year increase of 71.23%, with the price rising from N4,068.26.
A detailed analysis of state-by-state prices shows Osun State had the highest average price for refilling a 5kg LPG cylinder, recorded at N7,800.00. Edo State followed closely with an average price of N7,750.00, and Ebonyi State was next at N7,590.79.
Conversely, Yobe State had the lowest price for refilling a 5kg cylinder, at N6,062.50. Jigawa and Anambra states followed with prices of N6,144.44 and N6,338.75, respectively.
On a regional basis, the South-West zone recorded the highest average retail price for refilling a 5kg LPG cylinder, with an average price of N7,241.67.
The North-Central zone came next with an average price of N7,096.51, while the North-West zone had the lowest average price at N6,660.20.
In contrast to the 5kg cylinder prices, the average cost to refill a 12.5kg LPG cylinder saw a slight month-on-month increase.
The price went up by 0.70% from N15,627.40 in May 2024 to N15,736.27 in June 2024. Year-on-year, the price of refilling a 12.5kg cylinder rose by 72.49%, from N9,123.25 in June 2023.
A closer look at the state profile for the 12.5kg cylinder reveals that Cross River State had the highest average retail price, recorded at N16,888.89.
Kaduna State followed with an average price of N16,754.69, and Abia State was next with N16,708.33.
On the other end of the spectrum, Bauchi State had the lowest price for refilling a 12.5kg cylinder, at N13,450.00.
Taraba and Kogi states had prices of N13,950.00 and N14,455.38, respectively.
When analyzing by regions, the South-South zone recorded the highest average retail price for refilling a 12.5kg LPG cylinder, with an average price of N16,272.94.
The South-East zone followed with an average price of N15,925.96.
The North-East zone recorded the lowest average price at N15,104.26.
This mixed trend in LPG prices across Nigeria highlights the regional disparities in fuel costs, influenced by factors such as transportation logistics, local demand, and supply chain efficiencies.
Consumers in certain states and regions are paying significantly more for cooking gas compared to others, reflecting a need for strategies to stabilize and equalize prices nationwide.
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