WED NOV 20 2024-theGBJournal| Cooking gas prices in Nigeria have raced up to an unprecedented high, reaching a staggering average of N16,734.55 for the 12kg cylinder, in October 2024, according the latest data from the National Bureau of Statistics.
On a year-on-year basis, the price of the essential fuel rose by 58.68% from N10,545.87 in October 2023.
The average retail price for refilling a 5kg Cylinder of Cooking Gas also rose by 3.23% on a month-on-month basis from N6,699.63 recorded in September 2024 to N6,915.69 in October 2024.
Rivers state recorded the highest average retail price for the 12.5kg Cylinder of Cooking Gas with N17,895.00 followed by Osun with N17,739.06 and Benue with N17,731.25.
In Katsina the 12.5kg price is as high as N14,725.00, the lowest recorded in the country.
The price surge defies initiatives by the federal government to reduce the cost of the essential commodity, including restricting sale within the country only.
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