Mr Oladapo Olatunbosun, the President of Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGM), said the price of cooking gas would continue to increased as far as the domestic market continues to be impacted by foreign exchange crisis.
From the news gathered, Liquefied Petroleum Gas Price watch for February 2024 showed that the price of cooking gas (12kg) increased by 52.4 percent yearly from N10,253.39 recorded in the corresponding period of 2023.
The National Bureau of Statistics report showed that the price of a 12.5kg cylinder of cooking gas increased by 28.33 percent on a monthly basis, from N11,735.72 in January to N15,060.38 in February 2024.
Meanwhile, Ogun State recorded the highest average retail price for the price of a 12.5kg cylinder of cooking gas with N16,375.00, followed by Delta state with N16,333.33 and Edo State with N16,321.43.
“Conversely, the lowest average price was recorded in Bauchi State with N13, 167.50, followed by Katsina and Yobe States with N13, 562.50 and N13,610.00 respectively”.
Also, the South-East recorded the highest average retail price for refilling a 12.5kg Cylinder of cooking gas with N15, 954.60, followed by the South-South with N15, 943.40. In contrast, the North-East recorded the lowest price with N14, 035.88.
From the news gathered, Olatunbosun, 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 forex.”
, said the price of cooking gas would continue to increased as far as the domestic market continues to be impacted by foreign exchange crisis.){kind=link}