In March 2024, the National Bureau of Statistics (NBS) reported a 7.10% increase in the average price of 5kg cooking gas, rising from N6,154.50 in February to N6,591.62.
The latest data was revealed in the NBS’s “Cooking Gas Price Watch” for March 2024, released on Friday in Abuja.
Year-on-year analysis shows a 42.97% surge in the average price compared to March 2023 statistics, reaching N6,591.62.
For state-specific trends, Kano had the highest average price at N7,609.00, followed by Ogun at N7,363.64 and Akwa Ibom at N7,162.50.
Conversely, Adamawa recorded the lowest price at N5,312.50, with Taraba and Zamfara following at N5,375.00 and N5,550.00, respectively.
Regional breakdown indicates that the South-South had the highest average retail price at N7,003.08, trailed by the South-West at N6,723.22.
The North-East had the most cost-effective average retail price at N6,221.30, according to the NBS.
Moreover, the data highlights a 5.77% monthly increase in the average retail price for refilling a 12.5kg cooking gas, rising from N15,060.38 in February to N15,929.04 in March 2024.
On a yearly basis, the average retail price for 12.5kg cooking gas hiked by 55.22%, from N10,262.56 in March 2023 to N15,929.04 in March 2024.
State-wise, Sokoto had the highest average retail price for 12.5kg cooking gas at N17,833.33, with Osun at N17,588.46 and Anambra at N17,417.65 following suit.
Conversely, Katsina had the lowest recorded price at N12,400.00, trailed by Kebbi and Bauchi at N13,137.50 and N14,484.25, respectively.
Regional analysis showcased the South-South with the highest average retail price at N16,859.85, followed by the South-East at N16,734.87, and the North-East at N14,943.48, according to the report.