Nigerians are feeling the impact of rising cooking gas prices as the National Bureau of Statistics (NBS) reports a significant increase in the cost of Liquefied Petroleum Gas (LPG).
The NBS data reveals that the average retail price for refilling a 12.5kg cylinder of cooking gas rose by 69.15% from ₦9,194 in August 2023 to ₦15,552 in August 2024. This steep rise is alarming for many households that rely on cooking gas for daily meals.
On a month-to-month basis, the price for refilling a 12.5kg cylinder increased by 9.05%, from ₦14,261 in July 2024 to ₦15,552 in August 2024. This consistent upward trend in prices has raised concerns among consumers and industry analysts alike.
While the NBS did not specify the reasons for the increase, the rising inflation rate may be a contributing factor. Recent reports indicate that the inflation rate has been on the rise, peaking at 34% before slightly decreasing to 32.15% in August from 33.40% in July 2024. This inflationary trend affects various sectors, including the cooking gas market.
The NBS report indicates significant price variations across different states. Rivers State recorded the highest average retail price for refilling a 12.5kg cylinder at ₦17,086, followed closely by Cross River at ₦17,050 and Abia at ₦17,012. These figures illustrate the uneven distribution of gas prices across the country.
For smaller cylinders, the situation is similarly concerning. Benue and Sokoto recorded the highest average prices for refilling a 5kg cylinder at ₦7,000 each. Rivers follows closely with ₦6,954, while Borno recorded ₦6,914. Conversely, Taraba has the lowest price at ₦5,600, with Abuja and Kogi following at ₦5,825 and ₦5,857, respectively.
Analysis by zone shows that the South-East has the highest average retail price for refilling a 5kg cylinder at ₦6,585, followed by the South-South at ₦6,451. In contrast, the North-Central region recorded the lowest average price at ₦6,344.
For the 12.5kg cylinder, the South-South again leads with an average price of ₦16,524, followed closely by the South-East at ₦16,496. The North-Central region again offers the lowest price at ₦14,767.
Nigerians are increasingly worried about the rising cost of essential commodities, including cooking gas. Many households are now forced to adjust their cooking habits or seek alternative fuel sources, such as kerosene or firewood, which may not be as efficient or clean.
The increase in cooking gas prices has direct implications for food preparation and family budgets. Many families are concerned about how they will manage their daily cooking needs amid rising costs.
One Lagos resident expressed frustration: “We can barely afford to fill our gas cylinders anymore. It’s a struggle every month.” This sentiment is echoed by many across the country as they grapple with the financial burden.
The rising prices have prompted calls for government intervention. Some experts argue that the government should consider regulating the prices of cooking gas to protect consumers. However, the government’s response to rising fuel prices has often been slow, leading to frustration among citizens.
