Cooking gas prices drop by 14.23% in July

Mkpoikana Udoma

Port Harcourt — The average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) decreased by 14.23% from N6,966.03 in June 2024 to N5,974.55 in July 2024, according to the National Bureau of Statistics, NBS.

However, on a year-on-year basis, the price increased by 46.69% from N4,072.87 recorded in July 2023.

The NBS report also showed that Borno State recorded the highest average price for refilling a 5kg Cylinder of Cooking Gas with N7,088.59, followed by Yobe and Sokoto States. In contrast, Delta State recorded the lowest price with N5,392.86.

Analysis by zone showed that the North-East recorded the highest average retail price for refilling a 5kg Cylinder of Cooking Gas, while the South-South recorded the lowest.

Additionally, the average retail price for refilling a 12.5kg Cylinder of Cooking Gas decreased by 9.37% month-on-month from N15,736.27 in June 2024 to N14,261.57 in July 2024. On a year-on-year basis, the price rose by 55.66% from N9,162.11 in July 2023.

Gombe State recorded the highest average retail price for refilling a 12.5kg Cylinder of Cooking Gas, while Bauchi State recorded the lowest. Analysis by zone showed that the North-East recorded the highest average retail price, while the North-Central recorded the lowest.