There are indications that the prices of Liquefied Petroleum Gas, LPG, also known as cooking gas, would rise further as supply dips  by 5.5 per cent to 85,066.546 metric tonnes, MT, in September, from 90,017.002 MT recorded in August 2021.

A market survey by Vanguard showed that the price of 12.5 kg currently stands at N8,500 but could rise further to between N9,000 and N10,000 during the yuletide period that normally record increased demand.

The price of the cooking gas stands at N8, 000, N4,600 and N4,000 for 10kg, 5kg and 3kg respectively.

In the latest LPG report for September 2021 released weekend, the Petroleum Products Pricing Regulatory Agency, PPPRA, now known as the Nigeria Midstream and Downstream Petroleum Regulatory Agency, stated that,  of the 85,066.546 MT supplied, 51,847.085 MT were sourced locally, representing 60.95 per cent, while 33,219.461 MT, representing 39.05 per cent were imported.

It also stated that a bulk of the domestic supply was sourced from the Nigeria Liquefied Natural Gas, NLNG, while the imports came mainly from the United States, Algeria and Equatorial Guinea.

Reacting to the limited supply of LPG, the President, Nigeria LPG Association, Mr. Nuhu Yakubu, who noted that the sector was still constrained by some problems, especially foreign exchange, high prices and instability, said the association has been engaging with relevant agencies with a view to addressing the issues.


Source: Vanguard Newspapers


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