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Sharing Ideas and Updates on LPG in Nigeria and related information to enable effective collaboration within the LPG Value Chain
LPG PRICES DECREASED BY 8.77% IN THE MONTH OF MAY
LPG PRICES DECREASED BY 8.77% IN THE MONTH OF MAY
To shed light on the fluctuations in Cooking Gas prices across various regions of Nigeria, we present a comprehensive report for May 2024. This report meticulously details the prices of Cooking Gas in multiple cities nationwide, covering both the rates for a 12.5 kg cylinder and the cost per kilogram. Additionally, it includes a comparative analysis with prices from April.
Our insights are derived from data collected from 14 respondents, with primary sources including Facebook, our WhatsApp platforms, and the X platform.
In May 2024, the retail prices of Liquefied Petroleum Gas (LPG) varied significantly across different cities and states in Nigeria. The data collected provides insights into the cost of 12.5 kg cylinders and the corresponding price per kilogram in various locations. The variation in prices reflects the dynamics of the free market, influenced by factors such as transportation costs, demand and supply, regional economic conditions, and access to distribution networks.
Analysis of LPG Prices
Price Range for 12.5 kg LPG Cylinder:
The highest price for a 12.5 kg cylinder was recorded in Ibadan at ₦16,250.
The lowest price was observed in Lagos at ₦10,375.
The price range for a 12.5 kg cylinder spans from ₦10,375 to ₦16,250.
Price Per Kilogram:
The highest cost per kilogram was in Ibadan at ₦1,300.
The lowest cost per kilogram was in Lagos at ₦830.
The price per kilogram varies between ₦830 and ₦1,300.
Cities/States Comparison:
Ojo, Lagos State: The cost for 12.5 kg is ₦15,000, with a price per kg of ₦1,200.
Ilorin: The cost is ₦15,625, and the price per kg is ₦1,250.
Port Harcourt: The cost is ₦13,750, with a price per kg of ₦1,100.
Niger: The cost is ₦14,375, with a price per kg of ₦1,150.
Lagos: The lowest price per kg is recorded here at ₦830 for a 12.5 kg cylinder costing ₦10,375.
Owerri: The cost is ₦13,000, with a price per kg of ₦1,040.
Owode Yewa, Ogun: The cost is ₦12,500, with a price per kg of ₦1,000.
Ibadan: Prices vary within the city from ₦12,500 to ₦16,250 for 12.5 kg cylinders, reflecting a price per kg range of ₦1,000 to ₦1,300.
Ijede, Ikorodu: The cost is ₦13,750, with a price per kg of ₦1,100.
Akure, Ondo: The cost is ₦15,000, with a price per kg of ₦1,200.
Ondo Central: The cost is ₦12,500, with a price per kg of ₦1,000.
Minna: The cost is ₦11,250, with a price per kg of ₦900.
The LPG prices in Nigeria exhibit significant variation across different cities, primarily due to the dynamics of the free market. Factors influencing these prices include transportation costs, availability of supply, regional economic conditions, and local demand. The average cost for a 12.5 kg LPG cylinder refill is approximately ₦13,500, and the average cost per kilogram is around ₦1,085. In April 2024, the average price was ₦14,797. The percentage decrease in the average price from April to May 2024 is approximately 8.77%. This variability underscores the importance of understanding local market conditions when analyzing LPG prices.
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