In Nigeria, the cost of cooking gas has fluctuated significantly all year long, and worries about its availability and affordability have increased during the holiday season.CONTINUE FULL READING>>>>>
The price volatility of cooking gas, often referred to as Liquefied Petroleum Gas (LPG), this year has been caused by a number of variables, such as fluctuations in the global energy market, unstable exchange rates, and difficulties with domestic supply. Demand has been further strained by the holiday season, which is often associated with higher household spending, making the instability worse.
The average cost of a 12.5 kg cooking gas cylinder in January was approximately ₦8,000. However, costs increased dramatically as the year went on, and by the middle of the year, they were between ₦12,000 and ₦15,000 in several regions of the nation.
Limited domestic output, rising foreign gas prices, and the depreciation of the naira were some of the factors blamed for the predicament. Notwithstanding its vast natural gas reserves, Nigeria is largely dependent on imports to satisfy domestic consumption.
Prices have not appeared to stabilize as the holiday season draws near. A 12.5 kilogram cylinder cost between ₦16,000 and ₦17,500 in December in major cities including Lagos, Abuja, and Port Harcourt. Due to logistical issues, some rural areas reported higher pricing.
See the price of cooking gas per kg below:
1kg Cooking gas – ₦1,370
3kg Cooking gas – ₦4,110
5kg Cooking gas – ₦6,850
6kg Cooking gas – ₦8,220
10kg Cooking gas – ₦13,700
12.5kg Cooking gas – ₦17,125
