Average Prices Of Cooking Gas In Nigeria For 2024

By Oluwabukola Jimoh ــ Last Update 28 December 2024

The year 2024 witnessed significant fluctuations in the average prices of cooking gas (12.5kg cylinders) across Nigeria, reflecting diverse economic factors and market trends. Below is a summary of the monthly average prices, let’s explore together:

January:

The year began with a relatively low average price of 12,842 Naira, providing relief to households after the holiday season.

February:

Prices spiked to 16,812 Naira, marking one of the sharpest monthly increases, likely due to increased demand and limited supply.

March:

A slight decrease to 16,043 Naira indicated some stabilization in the market.

April:

The price further dropped to 14,797 Naira, as supply chains improved.

May:

A significant reduction to 13,500 Naira was observed, making it one of the most affordable months for cooking gas in 2024.

June:

Prices dipped marginally to 12,830 Naira, the lowest recorded average for the year, possibly due to increased availability.

July:

A rebound occurred with an average price of 14,287.50 Naira, signaling growing demand.

August:

Prices climbed to 16,338 Naira, continuing the upward trend.

September:

A minor dip brought the average price to 15,784 Naira, providing slight relief to consumers.

October:

The market saw an increase to 17,226 Naira, reflecting the onset of seasonal price surges.

November:

Prices remained high but relatively stable at 17,187.50 Naira.

December:

The year concluded with the highest average price of 17,527 Naira, attributed to festive demand and other market pressures.

The data highlights that the average price of cooking gas fluctuated between 12,830 Naira (June) and 17,527 Naira (December), with an overall upward trend toward the end of the year. For this year a core reason for the continued inflation of cooking gas prices has to do with the exchange rate and the fluctuation of the dollar and Naira. These variations underline the need for targeted government interventions to stabilize cooking gas prices and ensure affordability for Nigerian households.

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Oluwabukola Jimoh

Oluwabukola Jimoh is a dynamic academic writer and captivating energy blogger. She is able to delve into intricate subjects with an insatiable thirst for knowledge, crafting thought-provoking essays that engage and enlighten her readers.