Traders Share New Cost of Cooking Gas as Price Crashes in Lagos, Abuja

• The price of cooking gas at various filling stations has decreased, with many consumers confirming a significant reduction
• One kilogram of LPG now sells for around N1,200, with lower prices available at wholesale stations
• Customers expressed relief and surprise at the lower prices compared to previous purchases

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The price of cooking gas (LPG) across different filling stations has changed, as retailers begin quoting new prices.

Consumers who purchased LPG recently confirmed a significant reduction in the price compared to what it was sold for previously.

Legit.ng found that the average price for 1 kilogram of the product now sells for N1,200, and even less when consumers purchase it at wholesale filling stations.

Amaka Okoro confirmed she bought the product at a rate lower than the last time, about a month ago.

“I got my cooking gas for N1,200 per kg across my street. I was glad to hear that the price went down from N1,300 per kg,” she said.

Roseline Ejiofor expressed her surprise, saying, “I was surprised when they told me the price of cooking gas had reduced. I went there with more money to prepare for a possible hike, but I was happy to find that the price had reduced instead.”

However, some customers confirmed that they bought the product for an even lesser amount.

Legit.ng had reported that in a surprising twist that left customers dazed, the price of liquified natural gas (LPG) has crashed in Lagos, Abuja and parts of Nigerian cities.

Major LPG depots, surveyed by Legit.ng, disclosed that the price of the commodity crashed following the removal of import duty on accessories by the Nigerian government and the strengthening of the naira.

“Most of the LPG consumed in Nigeria is imported, hence the need for the government to incentivise importers by introducing waivers on LPG accessories,” policy analyst and Team Lead at Platforms Africa, Adeola Yusuf, stated.

Findings showed that one kilogramme of cooking gas, which sold for N1,050 last week, now sells for N1,000.

It means that a 12.5kg cylinder refill, which costs N13,125, now sells for N12,500, while a 6kg cylinder now sells for N6,000 from N6,300, and a 3kg cylinder sells for N3,000 from N3,150.

John Bamidele, a manager at one of the leading gas plants in Lagos, said that the crash was also due to the naira’s stability.

Marketers explain reason for fall in cooking gas prices

Legit.ng reported that the Independent Petroleum Marketers Association of Nigeria (IPMAN) has disclosed how the drop in petrol prices is pushing down the cost of cooking gas.

Legit.ng earlier reported that the price for refilling a 12.5kg cylinder dropped to N13,000 from N17,500 in some places.

The development means 1kg of cooking gas now sells for about N1,050 on average.

Source: Legit.ng