Cooking gas price rises 34.6% to N17,500 — Investigation

By Mariam Eko

The terms of refilling a 12.5kg cylinder of Liquefied Petroleum Gas, LPG, different known arsenic cooking state has accrued by 34.6 percent connected a Week-on-Week, WoW basis, to N17,500 this week, from N12,750 the erstwhile week.

Meanwhile, checks by Vanguard confirmed that the terms of 1kg presently retails astatine N1,350, N1,400 and N1,500 depending connected the location.

In a telephone interrogation with the National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, NALPGAM, Mr. Olatunbosun Oladapo said the caller summation was a arsenic a effect of the concern enactment by the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, adding that it affected the proviso worth concatenation majorly successful the South-West.

He noted that state is majorly a concern of request and supply, erstwhile determination is constricted proviso of the product, the request would beryllium high, thereby effect to hike successful price.

“As astatine the clip PENGASSAN embarked connected the strike, each state plants were shutdown, astir state plants person constricted supply. Dangote, our large supplier successful presumption of availability and affordability of the product, is yet to merchandise loading invoice to our members who person pending products with the institution for much than 3 weeks forcing marketers to bargain from different competitors astatine a precocious rate.

“Other competitors, took vantage of the challenges astir of our marketers are facing with Dangote and besides the concern enactment to summation their price.

“No marketer volition privation want to permission his works empty, therefore, they bargain from these competitors.
“We entreaty to Dangote to motortruck retired merchandise to much marketers arsenic this volition heighten the supply. We are hopeful the terms volition driblet successful the coming weeks,” helium added.

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