Within the last year, the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) has increased by 105%.
This comes after an increase from N2200 in August 2021 to N4500 in August 2022, representing a 105% increase over the period.
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Cooking gas prices have risen exponentially, mirroring the trend of other deregulated petroleum products such as kerosene and diesel, which have also seen significant increases this year.
According to a market survey conducted by The Punch correspondent, one litre of cooking kerosene, which previously sold for N700, now sells for between N800 and N850 in urban areas of Lagos State, while the price has reached as high as N1000 per litre at filling stations in the suburbs.
Similarly, the price of diesel remains at an all-time high of between N750 and N800.
According to the latest Commodity Price Index (inflation report), gas prices increased the most, followed by liquid fuel, solid fuel, garments, passenger transport by road, cleaning, repair, and hire of clothing, and passenger travel by air.
Culled from Punch
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