Cooking gas price increases in Nigeria

Amid the uncertainty surrounding the supply of Liquefied Petroleum Gas, known as cooking gas across Nigeria, the price of the product has further increased in some areas.

DAILY POST correspondent who went round Abuja and environs observed that the price of 1 kilogramme of cooking gas has been adjusted to N1,500, up from N1,200 sold last week.

Cooking gas dealers in the Gwarimpa and Dawaki areas of the FCT have increased their price to N17,500, up from N15,000, for 12.5 kg.

Similarly, 12.5 kg of cooking gas rose to N15,000 at the Nigerian National Petroleum Company Limited, NNPCL, retail outlet along the Kubwa Expressway, from N13,625.

The development comes as depot prices of cooking gas went up in the last week.

Gas price data showed that Dangote Refinery’s ex-depot price of 20 metric tonnes stood at N15,800, while that of Ardova, NIPCO and Shafa Energy is N18,400.

Dangote Refinery is an off-taker of the product.

Meanwhile, other LPG marketers such as Shafa Energy, 11 Plc, AA Rano, Ranoil and Matrix seem to be dry on LPG.

DAILY POST reports that MT is the equivalent of 20 kilogrammes of LPG.

The rise in the price of cooking gas comes amid scarcity of LPG in Lagos, Kano and other parts of the country, which resulted in price hike.

Earlier, the National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Oladapo Olatunbosun, blamed the cooking gas price hike on artificial scarcity.

He said, “What is happening is that some marketers are taking advantage of the shortage in supply and the market forces that have increased demand. They are cashing up to make good money, which is wrong.”

Last week, cooking gas price remained stable at as low as N1,200, depending on locations, in the nation’s capital.