Cooking Gas Prices Rose by 8.70% in 2023 – NBS

The price of cooking Gas continued to rise in the last quarter of 2023, adding to the strain on consumers who were already struggling with the rising cost of living.

According to data from the National Bureau of Statistics (NBS), the average retail price for refilling a 5kg cylinder of liquefied petroleum gas (cooking gas)
increased in the last month.

Prices rose from N4,828.18 in November 2023 to N4,962.87 in December 2023, marking an overall increase of more than 2.79%. On a year-over-year basis, prices have increased by 8.70% since December 2022. This increase follows a trend of rising prices that have put a strain on consumers, who are already struggling with the rising cost of living.

Experts believe that one of the main reasons is the rising cost of crude oil, which is a key input for the production of cooking gas. As the cost of crude oil has increased, so has the cost of cooking gas.