NBS: South-south recorded highest retail price for 12.5kg cooking gas in October

The National Bureau of Statistics (NBS) says the south-south geopolitical zone recorded the highest average retail price a 12.5kg of liquefied petroleum gas (LPG), better known as cooking gas, in October.

The average price of 12.5kg increased by 58.68 percent in one year, the bureau said in its latest ‘cooking gas price watch’ report for October.

“The average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (cooking gas) increased by 2.58% on a month-on-month basis from N16,313.43 in September 2024 to N16,734.55 in October 2024,” NBS said.

“On a year on-year basis, this rose by 58.68% from N10,545.87 in October 2023.”

On state analysis, the data bureau said Rivers recorded the highest average retail price for the refilling of a 12.5kg cylinder of cooking gas with N17,895 followed by Osun (N17,739.06) and Benue (N17,731.25).

“Conversely, the lowest average price was recorded in Katsina with N14,725.00, followed by Nassarawa and Adamawa with N15,390.55 and N15,474.21 respectively,” the bureau added.

“Analysis by zone showed that the South-South recorded the highest average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N17,114.67, followed by the South-East with N16,906.01 while the North-Central recorded the lowest price with N16,411.19.”

‘PRICE OF 5KG LPG INCREASED BY 51.5% IN OCTOBER’

The statistics firm said the average retail price for refilling a 5kg cylinder of cooking gas increased by 3.23 percent on a month-on-month basis from N6,699.63 recorded in September to N6,915.69 in October.

NBS said on a year-on-year basis, the price increased by 51.58 percent from N4,562.51 in October 2023.

“On state profile analysis, Borno recorded the highest average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N7,939.29, followed by Yobe with N7,580.00, and Benue with N7,578.00,” the bureau said.

“On the other hand, Katsina recorded the lowest price with N6,270.00, followed by Zamfara and Delta with N6,410.71 and N6,427.78 respectively.”

In addition, the NBS said the north-east recorded the highest average retail price for refilling a 5kg cylinder of LPG with N7,319.03, followed by the south-west with N6,961.58 while the north-west recorded the lowest with N6,703.95.

On October 22, the federal government directed the Nigerian National Petroleum Company (NNPC) Limited and LPG producers to stop exporting the product by November 1 to address the local price hikes.