In February 2024, the cost of refilling a 5kg cylinder of Liquefied Petroleum Gas surged to N6,154.50, marking a 19.75% increase from January 2023’s price of N5,139.25. Year-on-year, there was a significant surge of 33.78% from February 2023’s price of N4,600.57.
In a state-by-state analysis, Lagos recorded the highest average cost for refilling a 5kg cylinder of Cooking Gas at N6,820.00, closely followed by Imo at N6,785.71 and Anambra at N6,750.00.
Conversely, Yobe recorded the lowest price at N4,912.50, with Kebbi and Adamawa following at N5,350.00 and N5,385.00, respectively.
Regionally, the South-East had the highest average retail price for refilling a 5kg gas cylinder at N6,616.57, followed by the South-West at N6,513.30, while the North-Central region had the lowest average price at N5,723.02.
The price for refilling a 12.5kg cylinder of Cooking Gas witnessed a month-on-month increase of 28.33%, rising from N11,735.72 in January 2024 to N15,060.38 in February 2024. Compared to the previous year, there was a 46.88% hike from February 2023’s price of N10,253.39.
In terms of state prices, Ogun recorded the highest average cost at N16,375.00, followed by Delta at N16,333.33, and Edo at N16,321.43. Conversely, Bauchi recorded the lowest average price at N13,167.50, followed closely by Katsina and Yobe 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. The North-East recorded the lowest regional price at N14,035.88.
