The National Bureau of Statistics (NBS) has reported that the average price of a 5kg cooking gas cylinder in August 2023 rose to N4,115.32, marking a 1.04% increase from July 2023 when it was N4,072.87. However, on a year-on-year basis, there was a decrease of 7.66% compared to August 2022 when it was priced at N4,456.
Analyzing the prices across states, Kwara had the highest average price for a 5kg cooking gas cylinder at N4,816.67, followed by Benue at N4,766.67, and Zamfara at N4,756.25. On the contrary, Ondo had the lowest price at N3,299.29, followed by Ekiti and Nasarawa at N3,330.00 and N3,533.33, respectively.
When considering the regions, the North-Central had the highest average retail price at N4,501.26, followed by the North-West at N4,340.50. In contrast, the South-West recorded the lowest retail price at N3,737.12.
Additionally, the NBS noted that the average retail price for a 12.5kg cooking gas cylinder also increased, rising by 0.35% on a month-on-month basis from N9,162.11 in July 2023 to N9,194.41 in August 2023.
