Cooking gas prices shoot up

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The negative fortunes of the Naira have shot the prices of cooking gas up by 20 per cent.

Orient Energy Review reports that the price of Liquefied Petroleum Gas, popularly known as cooking gas, sold to marketers in the country rose by over 20 per cent in the past one month, with consumers paying more for the product.

The naira plunged on November 30 to 500 per dollar at the parallel market, its lowest level in more than three years, from around N462/$1 at the start of the month. It traded at 476 against the greenback on Tuesday.

Our correspondent gathered that terminal operators and importers increased the price of 20 metric tonnes of LPG to N5.3m on Monday from an average of N4.4m a month ago.

A gas plant in Lagos visited by our correspondent refilled a 12.5kg cylinder for LPG for N4,000 on Tuesday, up from N3,200 in November. Our correspondent gathered that the plant had refilled a 12.5kg cylinder for N3,500 on Monday.

 

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