The Dangote Refinery has adjusted the ex-depot price of Liquefied Petroleum Gas (LPG), popularly known as cooking gas
It was the second time Dangote Refinery has reduced the price of LPG in recent times.
Other major depots are still selling at higher prices. For instance, Ardova and Matrix depots sell their cooking gas for ₦920 per kilogram.
The price of the commodity at NIPCO and A.Y.M Shafa is ₦910. At Stockgap Depot, the price is ₦950 per kilogram.
However the Dangote Refinery has slashed the cooking gas price to ₦760 per kilogram.
Experts believe the latest reduction by Dangote Refinery will put pressure on other suppliers to reduce their prices.
An industry expert observed that Dangoter’s price cut shows intent to restore supply volumes and bring discipline back to the domestic LPG market.
Right now, retail prices of cooking gas in some parts of the country range from N1,000 t0 N3000 per kg.
In Arepo, Magboro, Mowe and many parts of Ogun State, the 12.5kg cylinder that was formerly filled with N3,000 is now filled with between N13,000 in major filling stations to N16,000 in smaller refill stations and shops.
Some areas of Nigeria are also experiencing a shortage of the commodity, leading to further escalation of the prices.
In a related development, the Nigerian National Petroleum Company Limited (NNPCL) has attributed the current high prices of gas to the industrial action of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
The company’s Group Chief Executive Officer, Bayo Ojulari, in an interaction with reporters after visiting President Bola Tinubu at the State House on Sunday, said the strike disrupted gas loading and distribution across the country for several days.
According to him, this created an artificial shortage and pushed prices up.
The NNCPC chief gave an assurance that the prices would come down and stabilise as normal supply resumes.
