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In light of the ongoing uncertainty regarding the supply of Liquefied Petroleum Gas, commonly referred to as cooking gas in Nigeria, the price of this essential product has risen in various regions.
A correspondent from DAILY POST who surveyed Abuja and its surroundings noted that the price of 1 kilogram of cooking gas has been raised to N1,500, an increase from the N1,200 charged last week.
Cooking gas vendors in the Gwarimpa and Dawaki regions of the FCT have adjusted their prices to N17,500, up from N15,000, for a 12.5 kg cylinder.
Likewise, the price for a 12.5 kg cylinder of cooking gas increased to N15,000 at the Nigerian National Petroleum Company Limited (NNPCL) retail outlet along the Kubwa Expressway, up from N13,625.
This situation arises as depot prices for cooking gas have escalated over the past week.
Data on gas pricing reveals that the ex-depot price for 20 metric tonnes at Dangote Refinery is N15,800, while those from Ardova, NIPCO, and Shafa Energy are priced at N18,400.
It is important to note that Dangote Refinery is a key off-taker of this product.
Meanwhile, other LPG marketers, including Shafa Energy, 11 Plc, AA Rano, Ranoil, and Matrix, appear to be out of stock regarding LPG.
DAILY POST clarifies that "MT" refers to 20 kilograms of LPG.
The increase in cooking gas prices coincides with a shortage of LPG in Lagos, Kano, and other regions of the country, leading to price hikes.
Previously, the price of cooking gas was as low as N1,200, depending on the location within the nation’s capital.
Earlier, Oladapo Olatunbosun, the National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, attributed the rise in cooking gas prices to market dynamics.
He stated, “What is occurring is that certain marketers are exploiting the supply shortage and the increased demand. They are capitalizing on this to maximize profits, which is inappropriate.”
