The price of a 12.5kg cylinder of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has risen by a staggering 34.6% week-on-week, increasing from N12,750 to N17,500 in just one week.
According to industry checks by Vanguard, the price of LPG per kilogram now varies between N1,350 and N1,500, depending on the region.
In a phone interview with the Vanguard, Mr. Olatunbosun Oladapo, the National President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), attributed the price hike to the ongoing industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), which has severely disrupted the supply chain, especially in the South-Western region of the country.
He explained that the LPG market operates on a demand-and-supply basis, and with limited product availability due to the strike, the demand has driven prices upwards. “At the time PENGASSAN went on strike, many gas plants were shut down, and the remaining plants have been operating with limited supply,” Oladapo said.
Furthermore, Oladapo revealed that Dangote Group, one of the country’s largest LPG suppliers, has yet to release loading invoices for products purchased by marketers, some of which have been pending for over three weeks. This delay has forced marketers to source from other suppliers at significantly higher rates.
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