The National Bureau of Statistics (NBS) has reported a significant increase in the average prices of cooking gas and kerosene in Nigeria for August 2024.
According to the NBS “Cooking Gas Price Watch” report released on Sunday, the average price of a 5kg cylinder of cooking gas rose by 7.62%, from ₦5,974.55 in July 2024 to ₦6,430.02 in August 2024.
On a year-on-year basis, this represents a 56.25% increase compared to ₦4,115.32 recorded in August 2023.
State-level analysis showed that Benue had the highest average price for 5kg of cooking gas at ₦7,000, followed by Rivers at ₦6,954.55, and Borno at ₦6,914.29. Taraba recorded the lowest price at ₦5,600.67, with Abuja and Kogi following at ₦5,825.00 and ₦5,857.56, respectively.
On a zonal level, the South-East recorded the highest average retail price for 5kg of cooking gas at ₦6,585.18, followed by the South-South at ₦6,451.34. The North-Central zone had the lowest average price at ₦6,344.29.
The report also noted a rise in the cost of refilling a 12.5kg cylinder of cooking gas, which increased by 9.05% on a month-on-month basis, from ₦14,261.57 in July to ₦15,552.56 in August.
This marks a 69.15% increase on a year-on-year basis, compared to ₦9,194.41 in August 2023. Rivers had the highest average price for 12.5kg at ₦17,086.36, while Bauchi recorded the lowest at ₦13,425.00.
Similarly, the NBS “Kerosene Price Watch” for August 2024 revealed that the average price of kerosene rose to ₦1,847.59 per litre, representing a 4.39% increase from the ₦1,769.86 recorded in July.
On a year-on-year basis, the average price per litre rose by 45.21% from ₦1,272.40 in August 2023. Zamfara recorded the highest average price per litre at ₦2,566.67, while Taraba had the lowest at ₦1,181.18.
The price of kerosene per gallon also increased, with the average retail price reaching ₦6,441.94 in August, an 11.80% rise from ₦5,762.10 in July. On a year-on-year basis, the price surged by 48.04%, compared to ₦4,351.53 in August 2023. Katsina recorded the highest price per gallon at ₦8,200, while Nasarawa had the lowest at ₦5,092.46.
The North-West region recorded the highest average price per gallon of kerosene at ₦7,787.64, while the North-Central zone had the lowest average price at ₦5,463.69.
These price hikes reflect the increasing cost of essential fuels, posing further challenges for Nigerian households dependent on cooking gas and kerosene for their daily energy needs.
