VANGUARD
THE price of Liquefied Petroleum Gas, LPG, otherwise known as cooking gas has risen to N14,150 for 12.5kg cyclinder, about 38 per cent Year-on-Year, YoY, against N10, 323.33 it sold in April 2023 last year.
This is even as the price of aviation fuel also rose to between N1, 300 and N1, 500 per litre in the domestic market, from about N1, 000 during the period, indicating an increase of 33 per cent.
However, checks by Energy Vanguard also indicated that the price of 5kg of the gas increased by 37 per cent to N5, 700 from N4, 642.27 during the period.
In an interview with Energy Vanguard, the President, Nigerian Association of Liquefied Petroleum Gas Marketers, NALPGM, Mr. Oladapo Olatunbosun, said the prices of cooking gas would continue to leap as the domestic market continues to be impacted by foreign exchange crisis.
He said: “It is expected that when the foreign exchange increases, the price of LPG will follow suit because it still priced and determined by the flow of foreign exchange.”
On his part, the Minister of Petroleum (Gas), Ekperikpe Ekpo, said: “Despite the declaration of the decade of gas and the government’s push to make gas a transition fuel, low production and rising prices have continued to push Nigerians away from the use of cooking gas.
“You have seen the demonstration by the federal government by withdrawing all taxes and levies from importation of gas related equipment. It is a big incentive on the issue.
“We are interacting with the critical stakeholders to ensure that there is no exportation of cooking gas. All cooking gas produced within the country will have to be domesticated and when this is done, the volume will increase and of course, the price will automatically crash.
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