Cooking gas dealers have begun reducing their prices as supply normalises, following Dangote Refinery’s decision to slash rates.
Checks revealed that several gas stations have cut prices by as much as N400 or more compared to what they charged during the recent scarcity.
The Liquefied Petroleum Gas Retailers Association of Nigeria (LPGAR) has distanced its members from the recent surge in prices.
Owners of Liquefied Petroleum Gas (LPG) plants, also known as cooking gas plants, have begun adjusting their prices as supply improves in the market.
The development comes after days of scarcity, which led to a surge in prices, especially in Lagos and Ogun states.
A survey by Legit.ng showed that some gas plants are now selling at N1,500 to N1,600 per kg, compared to the N1,800 to N2,300 range last week.
A dealer at Egbeda, Lagos, Funmilayo Olumide, told Legit.ng on Monday that she had reduced her prices to reflect the current market reality. “For now, I sell at N1,500 per kg because I still have some stock I bought at higher prices. Once I sell them off, my price will drop to N1,200 or lower.
“Last week I sold at N2,300 per kg”
Another retailer, who gave his name as Kunle, confirmed a price drop but noted that it would take time for rates to return to previous levels.
He said: “My 1kg is currently N1,600, while 5kg sells for N8,000. Yes, prices will drop further, but it may take until next week before the changes reflect because most of us restocked at high prices.”
The price situation differs for residents outside Lagos and Ogun states.
For example, a retail price list seen at the AA Rano Gas Plant in Osogbo showed that 1kg sells for N1,120, while 12.5kg goes for N14,500.
Here is a new price for cooking gas by a retailer
1kg: N1,600
2kg: N3,200
3kg: N4,800
4kg: N6,400
5kg: N8,000
6kg: N9,600
7kg: N11,200
8kg: N12,800
9kg: N14,400
10kg: N16,000
11kg: N17,600
12kg: N19,200
12.5kg: N20,000
