By Oke Peter
The price of Liquefied Petroleum Gas, LPG, also known as cooking gas has increased by 14.3 percent on a month-on-month, MoM, basis, to N1,500 per kilogram, from N1,300 recorded last month.
However, the ex-depot price of the product increased by 16.7 percent on a MoM basis to N21 million per 20 metric tonnes (MT), up from N18 million recorded last month.
Checks by our correspondent indicated that cooking gas now sells up to N1,500 per kilogramme in many locations.
Speaking with Vanguard, the National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Mr. Inyang Edu, confirmed that the depot price rose to N21 million adding that the purchasing power of Nigerians dropped drastically due to the hike in price.
According to him, the dealers now record poor sales at their various gas plants as consumers resort to other sources of energy.
Tags:
Meter price hike
Cooking Gas
