News Update
THE price of liquefied petroleum gas, commonly known as cooking gas, has risen to as much as ₦1,650 per kilogramme in Lagos and Ogun states, and ₦1,800 per kg in Abuja.
According to reports, retail prices of the product have risen in several parts of the country.
At Techno Oil outlets in Festac, Lagos, the price increased from ₦1,450 to ₦1,650 per kg.
NIPCO stations at First Gate and the Trade Fair Complex raised their price from ₦1,280 to ₦1,480 per kg.
In Ogun State, the Ecogas refilling plant in Sagamu raised its price from ₦1,500 to ₦1,600 per kg, while Oyejo gas station in Shiwun now sells at ₦1,650 per kg, up from ₦1,450.
In Abuja, prices went up from ₦1,700 to ₦1,800 per kg, while NIPCO outlets sold at ₦1,650 per kg.
The increase followed a 31.8 per cent rise in depot prices, from ₦1,100 to ₦1,450 per kg, within a month.
A gas expert, Lawal Taofeek, in an interview with TheCable, attributed the hike to rising global demand during the winter season.
“This is the peak heating season in Europe, when demand for gas rises significantly as countries increase consumption for heating.