The price of Liquefied Petroleum Gas (LPG) otherwise known as cooking gas has hit N1,500 per kilogram amid a nationwide supply crunch.
Pulse, citing market surveys and industry data, reported that the cooking gas price has jumped higher than 15% over the past month in several places across the country from its previous N1,300 per kg.
Data from the National Bureau of Statistics (NBS) already indicates a steady climb in price since the beginning of the year.
However, reports suggest that the latest uptick follows an ongoing supply squeeze across Nigeria. Experts noted that only three suppliers currently have sufficient commercial volumes of cooking gas for sale in the domestic market. These include the Dangote Petroleum Refinery, Ardova Plc, and Navgas.
Beyond the supply shortages, the price increase may also be attributed to increased domestic demand, depot pricing, and logistics issues.
Meanwhile, with the latest pricing, an average Nigerian earning the N70,000 minimum wage may spend more than 25% of their monthly salary on cooking gas. Notably, this could exacerbate pressure on Nigerians currently battling high cost of food and other basic items.
