Dealers Finally Slash Cooking Gas Prices, Announce New Cost in Lagos, Other Regions
- Cooking gas prices have finally dropped significantly, retailing for between N950 and N1,300 in various places
- According to a Legit.ng market analysis, 1 kilogram of gas currently costs N1,300 at retail establishments
- However, other dealers assert that they may purchase the commodity at wholesale retailers at a lower price
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
The price of cooking gas has finally declined sharply, selling between N950 to N1,300 per KG across different regions.
Source: Getty Images
A market survey carried out by Legit.ng shows that the price of 1kg gas now cost N1,300 at retail stores. This is a significant decline from the N1,500 which it sold about a month ago.
Some traders however claim that they are able to get the buy the product in at a more discount price at some filling stations stores for as low as N1,100
Kafayat Komolafe said,
“This morning I went to refill and to my surprice, the price has reduced drastically to N1,300. The last time I fill was about 2 months ago at N1,500.
Idaya Folorunsho noted that she had to refill full gas cylinder as soon as she heard the price reduced.
She said,
“You know this is Nigeria. When things go down, we just have to seize the opportunity because we don’t know what would happen tomorrow.”
Source: UGC
When asked if the price could go less than N1,300 for customers who are filling as much as 10kg and above, he said,
“We sell directly to consumers and it is whatever we buy that we will sell. Those who claim they bout at cheaper rate less than N1,300 per KG probably bought at filling stations where they sell at wholesale prices. But you can’t compare us to those people with big tanks.
Ikenna Peter said,
“In this country, we are our own problems. How can some people be selling cooking gas for 1,300 per KG and then you go to other places to buy for N1,150. Not everything is about the government, we the people - especially traders - also need to check ourselves and do things with the fear of God.
Meanwhile, Kunle Ajami, a manager of a cooking gas plant in Lagos told Legit.ng that the price adjustment started a month ago.
"There is a massive drop compared to what people were paying last year. We sell cooking gas based on how we buy from marketers. If the price is high, we adjust."
In some places like Kaduna however, cooking gas price reportedly dropped to as low as N950 per KG.
Source: Getty Images
Again, dealers announce new cooking gas price in Lagos, others
Legit.ng reported that the Nigeria Bureau of Statistics (NBS) reported that between December 2023 and December 2024, the average price of Liquefied Petroleum Gas (LPG), also referred to as cooking gas, increased by 44.62%.
Refilling a 5 kg cylinder cost an average of N7,177.27 in December 2024, as opposed to N4,962.87 in December 2023, according to the NBS Liquefied Petroleum Gas Price Watch.
The price increased by 1.26 percent on a monthly basis from N7,088.16 in November 2024.
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Source: Legit.ng
