How much Nigerians paid for cooking gas at the retail end as of the 17th of September 2021.
In the second week of September, we asked Nigerians via our social media page on Facebook, how much they were buying or selling cooking gas at the retail end. Not surprisingly, the responses revealed a further increase in average retail price nationwide by about 9% from a 15% increase in July 2021. See summary below;
This time around we got responses from Maiduguri and Sokoto with N7000 and N6750 per 12.5kg respectively. Surprisingly, the most expensive LPG came from Owerri with N8000 per 12.5kg. Port Harcourt was N7050 per 12.5kg, Abuja – N7250 per kg, Badagry – N7100. Others included Delta at N6875 per 12.5kg , Mowe at N7,187 per 12.5kg and the lowest – Lekki at N6,400 per 12.5kg.
Effect of increased cooking gas prices on the demand in the Nigeria market
Scarcity was experienced in some part of the month as some plant owners have had challenges replenishing stock. Other respondents mentioned reduced patronage from buyers – apparently as a result of switching to other cooking fuels.
International LPG (cooking gas) price effect on local prices
International LPG prices rose by about 10% from mid August to mid September 2021 (from 612 to 673 USD per Metric ton for Butane). Prices are normally lowest during summer, but this year, prices has continued to show abnormal trend in prices. Further increase in the price of cooking gas is expected internationally as energy demand increase post COVID-19.
We shall continue to share our analysis with you and in the coming months.