See more as Cooking gas prices crash, dealers release new price list

• The terms of cooking state has reduced, offering anticipation to Nigerian households battling the precocious outgo of surviving crossed the country
• The latest terms lists amusement that the outgo of refilling a 12kg cooking state cylinder is present little compared to erstwhile prices
• The changes successful cooking state prices person followed the aforesaid inclination successful planetary crude lipid prices, which dropped precocious beneath $70 per barrel

Legit.ng journalist Dave Ibemere has implicit a decennary of business journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends

The terms of liquefied earthy state (LPG), besides known arsenic cooking gas, has decreased, offering flimsy alleviation to Nigerians amid the rising outgo of living.

New information shows that respective depot owners, including Dangote Petroleum Refinery, person besides adjusted their prices.

Cooking state prices adjusted amid changes successful planetary crude lipid prices Photo credit: Bloomberg/contributor
Source: UGC

Cooking state prices

LPG prices successful Nigeria person climbed sharply astatine cardinal depots, with astir present selling to retailers astatine implicit N900 per kilogram, but Dangote Refinery, which sells to marketers astatine N855 arsenic of Tuesday, May 20.

Data published by Petroleumprice.ng showed that Dangote Refinery recorded the lowest price, selling LPG astatine N855 per kilogram, a driblet of N10 oregon 1.16% compared to the erstwhile day.

Other large depots besides posted flimsy declines. Ardova sold astatine N915/kg, down by N10 oregon 1.08%, portion some NIPCO Lagos and 11 Plc sold astatine N920/kg, each reflecting a alteration of N5 oregon 0.54%.

Rainoil Lagos and A.A. Rano held prices dependable astatine N920/kg, with nary recorded changes.

Retail cooking state price

Despite the insignificant reductions astatine the depots, retail prices remain high, with consumers crossed the country paying N1,200 per kg to refill their cylinders from N950 arsenic astatine the aforesaid play past year.

During a marketplace survey, immoderate dealers who spoke to Legit.ng confirmed prices are inactive high.

Kunle Ajami, a manager of a cooking state works successful Lagos, said that the terms accommodation started a period ago.

"Although depots prices person reduced, but erstwhile you see each the different costs, there's not overmuch difference. That's wherefore we inactive merchantability astatine our existent prices. Infact we don't merchantability 1kg to our customers"

Here is the existent terms database for cooking

Ajami revealed the existent terms database of cooking state arsenic follows:

• 1kg - N1,200
• 2kg - N2,400
• 3kg - N3,600
• 4kg - N4,800
• 5kg - N6,000
• 6.25kg - N7,500
• 10kg - N12,000
• 12.5kg - N12,000
• 15kg - N18,000
• 20kg - N24,000
• 25kg - N30,000
• 50kg - N60,000

FG takes superior enactment to clang cooking state prices

Earlier, Legit.ng reported that the Nigerian authorities has halted the export of locally produced cooking gas.

Ekperikpo Ekpo, the Minister of State for Petroleum Resources (Gas), disclosed the directive.

The bid seeks to prioritise home proviso implicit exports to alleviate the load of rising costs connected Nigerian consumers.

His spokesman, Louis Ibah, shared the minister's connection aft a high-level gathering successful Abuja betwixt the authorities and stakeholders successful the cooking state worth chain.

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Source: Legit.ng