March Sees a 55.22% Increase in Cooking Gas Prices, Compared to Last Year
The National Bureau of Statistics’ Price Watch has reported a significant rise of 55.22% in the price of cooking gas between March 2023 and March 2024.
According to recent data from the NBS, the amount required to refill a 12.5-kilogram cylinder with cooking gas rose from an average of N10,262.56 in March 2023 to N15,929.04 in March 2024.
On state profile analysis, Sokoto recorded the highest average retail price for the refilling of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N17,833.33, followed by Osun with N17,588.46 and Anambra with N17,417.65.
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Conversely, the lowest average price was recorded in Katsina at N12,400.00, followed by Kebbi and Bauchi with N13,137.50 and N14,484.25, respectively.
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 N16,859.85, followed by the South-East with N16,734.87. In contrast, the North-East recorded the lowest price with N14,943.48.
The development comes amid the soaring inflation in Nigeria.
NBS plans to release April’s inflation next week.
Meanwhile, the country’s headline and food inflation increased to 33.20 per cent and 40.01 per cent in March 2024.
