See the new price of cooking gas as dealers report improved supplies

• Cooking state dealers person crashed the terms of the merchandise further pursuing improved proviso and forex availability
• The dealers said the terms of refilling 12.5kg of cooking state crashed from N14,000 to astir N10,000
• Findings amusement that the clang besides comes pursuing the comparative summation of the naira against the US dollar

Legit. Pascal Oparada has been reporting connected tech, energy, stocks, investment, and the economy for implicit a decade.

Findings by Legit. ng amusement that liquified petroleum state (LPG) dealers, besides known arsenic cooking gas, person crashed the commodity's terms pursuing proviso improvements.

According to a marketplace survey conducted by Legit.ng, the dealers person crashed the product's terms to N900 per kilogramme from the N1,300 it sold weeks ago.

Dealers study improvements successful cooking state supplies Credit: NurPhoto
Source: Getty Images

LPG dealers study improvements successful supplies

The dealers reported improvements successful supplies from assorted depots, saying that the terms besides crashed owed to the comparative availability of overseas speech for import.

A manager astatine Gasland depot successful the Iju-Ishaga country of Lagos, who pleaded anonymity, revealed that the terms clang besides followed the Nigerian government's removal of value-added tax (VAT) from the product.

"We are witnessing proviso improvements, and much marketers tin entree the products. Also, we person noticed an betterment successful forex availability for importers to bring successful the product."

He stated that the deport sold the merchandise astatine N1,300 per kilogramme 2 weeks agone but crashed the terms to N900.

He revealed that 12.5kg sells for astir N10,000 from the N14,300 it sold 2 weeks prior.

LPG terms crashes from N15,000 per 12.5kg

Recent information from the National Bureau of Statistics (NBS) disclosed that the terms of 12.5kg of LPG accrued by 46.88% successful 1 year.

The NBS revealed this successful its yearly LPG terms ticker study for February.

The NBS said the terms of refilling 12.5kg of cooking state accrued to N15,060.38, compared to N10,253.39 successful the period nether review.

The study said the mean terms for refilling a 12.5kg cooking state cylinder roseate by 28.33% successful 1 month, from N11.735.72 successful January 2024 to N15,060.38 successful February 2024, TheCable reported

The study said:

The bureau said that "on a year-on-year basis, this roseate by 46.88% from N10,253.39 successful February 2023." 

"On authorities illustration analysis, Ogun recorded the highest mean retail terms for the refilling of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N16,375.00, followed by Delta with N16,333.33 and Edo with N16,321.43."Conversely, Bauchi recorded the lowest mean price, N13,167.50, followed by Katsina and Yobe, with N13,562.50 and N13,610.00, respectively."

Cooking state request declines

Legit.ng reported that the request for Liquefied Petroleum Gas (LPG), commonly known arsenic cooking gas, has declined amid expanding surviving expenses.

This improvement comes arsenic galore efforts by the Federal Government to heighten proviso and promote home usage failed.

The Nigerian Bureau of Statistics precocious released information indicating a emergence successful the ostentation complaint from 28.92% successful December 2023 to 29.90% successful January 2024.

Source: Legit.ng