Subsidy removal: Cooking gas price drops by 6.71% – NBS

The average cost of a 5 kilogram cylinder of cooking gas, also known as liquefied petroleum gas, dropped from N4,369.69 in May to N4,068.26 in June, a 6.71 percent decline.

In its Tuesday June Liquified Petroleum Gas (Cooking Gas) Price Watch, NBS made this information available.

In light of this, the result marks a 3.56 percent annual decline from June of last year, when it was N4,218.38.

A state-level research showed that Ondo had the lowest pricing for a 5kg cylinder of liquefied petroleum gas at N3,287.86, while Kwara had the highest price at N4,500.

“The average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) decreased by 6.71% on a month-on-month basis from N4,360.69 recorded in May 2023 to N4,068.26 in June 2023,” the report stated.

The development comes amid a hike in fuel pump price to N617 per litre after subsidy removal.