The cost of cooking gas has begun to decline in several parts of Nigeria as improved product availability and lower depot prices ease pressure on the Liquefied Petroleum Gas market, offering relief to households battling rising living expenses.
Market checks showed that retail prices have moderated in many cities, although consumers are still paying different rates depending on transportation costs, distance from supply depots and retailers' operating expenses.
In Lagos, Ibadan and Abeokuta, cooking gas now sells for between N1,100 and N1,350 per kilogramme.
Residents of Benin, Port Harcourt and Warri pay between N1,150 and N1,400 per kilogramme, while prices range from N1,200 to N1,450 in Onitsha and Enugu. In Abuja, the product currently sells for between N1,250 and N1,500 per kilogramme.
The National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Edu Inyang, said consumers in northern states still face relatively higher prices because of transportation and logistics challenges.
According to him, cooking gas sells for between N1,300 and N1,550 per kilogramme in Kano and Kaduna, while buyers in Maiduguri and parts of the North-East pay between N1,350 and N1,650 per kilogramme.
He explained that the recent decline followed improved supply from local producers and importers, reduced depot prices, increased competition among marketers and the end of panic buying, which had earlier disrupted the market.
He added that the prevailing national retail price now ranges from N1,100 to N1,650 per kilogramme.
The development reverses the sharp surge witnessed in recent months when supply shortages pushed the price of cooking gas from an average of about N1,000 per kilogramme at the beginning of the year to as high as N2,400 per kilogramme in some locations.
At the current market rates, refilling a 5kg cylinder costs between N5,500 and N8,250, while a 6kg cylinder attracts between N6,600 and N9,900.
Consumers refilling a 12.5kg cylinder are expected to spend between N13,750 and N20,625, depending on where they buy the product.
Industry operators, however, cautioned that prices may continue to vary across the country, particularly in communities located far from major gas depots where transportation costs remain high.
They expressed optimism that sustained supply and stable distribution would trigger further price reductions in the weeks ahead.
Also confirming the improvement, the National Chairman of the Liquefied Petroleum Gas Retailers Branch of the Nigeria Union of Petroleum and Natural Gas Workers, Ayobami Olarinoye, said supply had improved significantly.
He noted that retailers currently purchase the product from gas plants at between N1,300 and N1,500 per kilogramme and sell to consumers for between N1,600 and N1,800 per kilogramme, depending on location and other operational costs.
He added that the market was gradually returning to stability.
0 Comments