Cooking Gas (LPG) Price goes through the roof

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• Author: Muyiwa Ige(LPG Stakeholder and Consultant)

The price of cooking gas in the country, has risen to as high as N950 per kg, in some of the LPG terminals in the country.

This unprecedented increase in the price of cooking gas is directly attributable to the recent astronomical leap in the Naira-Dollar exchange rate, which has shot up the landing cost of imported LPG cargoes, and also increased the logistics associated with locally produced LPG.

The retail price of the product which currently ranges between N900-N1,200, is expected to shoot up to N1,000-N1,400, in the coming days; depending on each location’s proximity to the LPG Terminal.

The price of cooking gas is expected to decrease, when the forex crisis abates and/or when the international price of the products starts to reduce, at the onset of the summer season.