In the pursuit of tracking the evolving landscape of Liquefied Petroleum Gas (LPG) prices in Nigeria, we present an analysis of the price data for August 2023. The data outlines the prices for LPG in various cities across the country for both the 12.5kg cylinder and per kilogram, along with a comparative evaluation with the preceding month of July. We had a total of 27 respondents from our survey conducted on both Twitter (now X) and Facebook. This report aims to shed light on the changing dynamics of LPG prices and their implications for consumers and stakeholders.
Cities Surveyed Include: Jos, Plateau, Anambra, Uyo, Osun, Owerri, Abia, Asaba, Delta, Badagry, Ota-Ogun, Kaduna, Warri, Delta, Enugu, Ilorin, Ado-Ekiti, Ogijo, Ogun, Ibadan, Bayelsa, Ikorodu, Lagos.
Highest Rates for 12.5KG and Per KG Purchases: Among the surveyed cities in August, the residents of Jos, Plateau, secured the highest LPG purchase rates. For 12.5KG, the prices ranged from ₦9,375 (per KG at ₦750) to ₦10,625 (per KG at ₦850), reflecting varying cost levels in different transactions. In Ikorodu, Lagos, the LPG per KG price stood at ₦10,625 (per KG at ₦850), reflecting a relatively higher cost for LPG.
Rates for 12.5KG and Per KG Purchases in Other Cities: Other cities also experienced diverse LPG purchase rates. In Owerri and Abia, the prices were ₦10,000 (per KG at ₦800). Meanwhile, in Asaba, Delta, LPG was priced at ₦9,500 (per KG at ₦760). Osun stood out with its relatively lower costs, where 12.5KG was available at ₦7,500 (per KG at ₦600). Similarly, in Badagry, residents paid ₦9,375 (per KG at ₦750) for their LPG.
Intermediate Prices for 12.5KG and Per KG Purchases: Cities like Anambra displayed varying price ranges. For instance, LPG was purchased at ₦8,500 (per KG at ₦680), ₦9,000 (per KG at ₦720), ₦10,000 (per KG at ₦800), and ₦10,625 (per KG at ₦850) across different transactions. Ota-Ogun also showcased fluctuating prices, with costs ranging from ₦8,750 (per KG at ₦700) to ₦9,375 (per KG at ₦750). Similarly, in Warri, Delta, the prices were ₦9,750 (per KG at ₦780) and ₦10,000 (per KG at ₦800).
Lowest Purchases for 12.5KG and Per KG: Enugu residents purchased LPG at ₦8,500 (per KG at ₦680), while Ilorin residents paid ₦9,125 (per KG at ₦730) for their LPG needs. In Uyo, the prices were ₦9,375 (per KG at ₦750) and ₦10,000 (per KG at ₦800). Ado-Ekiti residents secured LPG at ₦9,375 (per KG at ₦750), and those in Ogijo Ogun paid ₦9,000 (per KG at ₦720). In Ibadan, LPG prices ranged from ₦8,750 (per KG at ₦700) to ₦9,375 (per KG at ₦750). Lastly, in Bayelsa, the cost was ₦9,375 (per KG at ₦750).
In August, the average price of LPG/cooking gas was approximately ₦9,419, while in July, it stood at ₦8,744. This shows a price increase of about ₦675 between the two months. The percentage increase from July to August is approximately 7.69% - this shows that the prices of LPG are gradually increasing to what they were pre-subsidy.
What do you think of this price increase?