The average price of a 5kg cylinder of cooking gas fell by 6.10% in June 2024, marking the largest decrease in the past year, according to data from the National Bureau of Statistics. The average price for June was N6,966.03, down from N7,418.45 in May.
This decline is notable given that the price of 5kg LPG had only decreased once in the previous 12 months, with a modest 1.06% drop in April 2024.
Despite this monthly drop, the cost of a 5kg cylinder has surged by 71.23% year-on-year, from N4,068.26 in June 2023 to the current price.
State-level data reveals significant regional variations in cooking gas prices. Osun recorded the highest average price for a 5kg cylinder at N7,800.00, followed by Edo at N7,750.00, and Ebonyi at N7,590.79. In contrast, Yobe had the lowest price at N6,062.50, with Jigawa and Anambra following at N6,144.44 and N6,338.75, respectively. Zonal analysis showed that the South-West had the highest average price at N7,241.67, while the North-West had the lowest at N6,660.20.
The average retail price for refilling a 12.5kg cylinder of LPG increased by 0.70% from May to June 2024, rising from N15,627.40 to N15,736.27. On a year-on-year basis, this reflects a 72.49% increase from N9,123.25 in June 2023.
State-level data for the 12.5kg cylinder shows Cross River with the highest average price at N16,888.89, followed by Kaduna at N16,754.69 and Abia at N16,708.33. Conversely, Bauchi had the lowest average price at N13,450.00, followed by Taraba at N13,950.00 and Kogi at N14,455.38. Zonal analysis indicated that the South-South region had the highest average price at N16,272.94, while the North-East recorded the lowest at N15,104.26.
The recent decline in cooking gas prices may provide some relief to households grappling with inflation and rising costs of food and transportation. However, the significant year-on-year increase in cooking gas prices might push vulnerable families to switch to firewood or other less environmentally friendly energy sources.
This shift could hinder efforts to reduce the use of firewood and coal for cooking in Nigeria, impacting both environmental and public health goals.
