The average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas), according to The TrackNews, has risen by 105% in the last year.
This follows an increase from N2200 in August 2021 to N4500 in August 2022, a 105% increase over the previous year.
Cooking gas prices have risen dramatically this year, mirroring the trend of other deregulated petroleum products such as kerosene and diesel, which have also seen significant increases.
According to TrackNews, the price of kerosene, which is used by many families, has risen to N800 per litre, just as the market begins to adjust to newly raised petrol and gas prices.
According to a market survey conducted by our correspondent, one litre of cooking kerosene, which previously cost N700, now costs between N800 and N850 in Lagos State’s urban areas, with prices reaching as high as N1000 per litre at filling stations in the suburbs.
Similarly, diesel prices remain at an all-time high of N750 to N800.
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, according to the most recent Commodity Price Index (inflation report).
Energy expert Bala Zakka blamed the sharp increase in cooking gas prices on policymakers’ poor decision-making in an exclusive interview with our correspondent