The recent drop in petrol prices has led to a decrease in cooking gas costs in Nigeria. According to the Independent Petroleum Marketers Association of Nigeria (IPMAN), the price reduction is mainly due to the recent fuel price cut, which naturally affects fuel alternatives.
Price Drops in Various States:
Rivers: The price for refilling a 12.5kg cylinder of cooking gas decreased from ₦18,750 to ₦15,625, with a new rate of ₦1,250 per kilogram, down from ₦1,500.- Other states: Edo, Delta, and Niger have also experienced similar price reductions, with customers saving about ₦1,000 on average.
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The current petrol price range of ₦910 to ₦950 per litre has contributed to the decrease in cooking gas costs.IPMAN’s spokesperson, Chinedu Ukadike, mentioned that the change in LPG prices is also in line with international market factors and exchange rates. Ukadike noted that the price drop is a result of deregulation, allowing market forces to determine prices.
Ukadike mentioned that prices may drop further in the coming months, depending on international and domestic market conditions. This is good news to many Nigerians, especially those of the middle class who had previously lamented about the unreasonable increase in cooking gas price, even though Nigeria has it in abundance, and many questioned the logic behind the flaring of gas by oil production companies when people are finding it difficult to afford it.
