June 2024 Cooking Gas Price Report: Lowest Average Price Since January

The survey conducted in June across various states and cities in Nigeria provided valuable insights into the retail prices of LPG (cooking gas) nationwide via X, Facebook and our WhatsApp platforms. The latest data on retail prices for Liquefied Petroleum Gas (LPG) across various cities in Nigeria for June 2024 shows a notable decrease, reaching the lowest average since January 2024. 

Highlights from our Findings:

1 Highest Price: Ijebu Ode recorded the highest price at ₦15,000 for a 12.5 kg cylinder, which translates to ₦1,200 per kg.

2. Intermediate Prices: Cities like Imo State, Ekiti, and Lagos Island all had similar prices, each charging ₦13,750 for a 12.5 kg cylinder, which is ₦1,100 per kg.

3. Lowest Price: Oyo had the lowest price at ₦10,625 for a 12.5 kg cylinder, amounting to ₦850 per kg.

Price Comparison and Drop Analysis

The average price of LPG in June 2024 was ₦12,830.88, representing a significant decrease from May 2024's average of ₦13,500. This reflects a price drop of approximately 4.96%.

Here's a detailed look at the price variations across different cities:

Shagamu: ₦12,250 (₦980 per kg)

Imo State: ₦13,750 (₦1,100 per kg)

Abuja: ₦11,875 (₦950 per kg)

Kaduna: ₦12,250 (₦980 per kg)

Ekiti: ₦13,750 (₦1,100 per kg)

Adamawa: ₦13,750 and ₦13,000 (₦1,100 and ₦1,040 per kg)

Ijede, Ikorodu: ₦12,500 (₦1,000 per kg)

Lagos Island: ₦13,750 (₦1,100 per kg)

Ibadan: ₦11,875 (₦950 per kg)

Oyo: ₦10,625 (₦850 per kg)

Ojo, Lagos State: ₦12,500 (₦1,000 per kg)

Kogi: ₦14,375 (₦1,150 per kg)

Katsina: ₦13,125 (₦1,050 per kg)

Kwara: ₦12,500 (₦1,000 per kg)

Ijebu Igbo: ₦11,250 (₦900 per kg)

Ijebu Ode: ₦15,000 (₦1,200 per kg)

The survey conducted in June across various states and cities in Nigeria provided valuable insights into the retail prices of LPG (cooking gas) nationwide. Several key factors contributed to the observed decrease in prices. One significant factor was the government's removal of Value Added Tax (VAT) on LPG, which directly reduced the overall cost for consumers. Also, the government's initiative to distribute cooking gas cylinders for free played a crucial role in lowering prices. This measure not only alleviated the initial financial burden on consumers but also encouraged wider adoption of LPG, thereby increasing demand and driving down costs through economies of scale. These proactive government policies have collectively contributed to making cooking gas more affordable and accessible to households across Nigeria. This reduction in the average price of LPG is a welcome development, offering some relief to consumers amidst fluctuating energy costs. The data provides a comprehensive overview of the LPG market across Nigeria, highlighting key trends and differences in pricing across various regions.

• Lpg
• cooking gas
• gas prices
• nigeria
• june
• 2024

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.