Cooking Gas Increased Drastically By 11.35% From June To July 2024

By Oluwabukola Jimoh ــ Last Update 06 August 2024

The LPG market in Nigeria is influenced by various factors such as global oil prices, local demand, transportation costs, and government policies. This report analyzes the retail prices of LPG across different Nigerian cities for July 2024, based on data gathered from responses on our social media platforms. A total of 25 respondents provided information on the LPG prices in their respective locations.

Analysis

Price Range:

i. The cost of a 12.5 kg cylinder of LPG in July 2024 ranged from NGN 11,250 to NGN 17,500.

ii. The average cost was approximately NGN 14,287.5 per 12.5 kg cylinder.

Regional Variations:

iii. Northern Nigeria: Cities like Bauchi and Jos, Plateau reported higher prices, with Jos being the highest at NGN 17,500 per 12.5 kg. These regions' higher transportation costs and supply chain issues likely contributed to these elevated prices.

iv. Southwestern Nigeria: Prices in cities such as Ibadan and Ijebu East were lower, with Ijebu East reporting the lowest price at NGN 11,250. The proximity to major distribution centers and ports in the southwest might explain the lower prices.

v. Lagos State: Prices varied within Lagos, with Ikorodu and Victoria Island both reporting NGN 14,375, while Ojo and Ajah reported NGN 15,000.

vi. Southeastern Nigeria: Enugu and Anambra had relatively moderate prices around NGN 13,750 to NGN 14,375.

vii. Niger Delta Region: Delta reported high prices at NGN 16,250, similar to other oil-rich regions like Bauchi and Osun.

Cost per kg:

viii. The cost per kg varied from NGN 900 in Ijebu East to NGN 1,400 in Jos, Plateau.

ix. The average cost per kg was approximately NGN 1,143.

Conclusion

LPG prices in Nigeria for July 2024 showed significant regional variation, influenced by factors such as transportation costs, proximity to distribution centers, and local market conditions. The average price of a 12.5 kg cylinder was NGN 14,287.5, with the highest prices observed in Jos, Plateau, and the lowest in Ijebu East. As the LPG market continues to evolve, it is crucial for both consumers and suppliers to stay informed about price trends and the factors driving these changes. The LPG prices in Nigeria for July 2024 showed a significant increase compared to the previous months of May and June. The average cost of a 12.5 kg cylinder decreased by 4.96% from May to June but increased by 11.35% from June to July. The cumulative increase over the two-month period from May to July was 5.83%. These changes highlight the impact of global oil prices, local economic conditions, and supply chain factors on the LPG market in Nigeria.

For more detailed discussions and to share your experiences, visit our LPG in Nigeria Forum. Connect with other LPG users and industry professionals to stay updated and make informed decisions.

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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.