Metro

FG crashes price of cooking gas

The price of liquefied petroleum gas,  (LNG) popularly known as cooking gas, appears to be crashing.

Findings show that the average cost of 1 kilogramme of cooking gas has crashed to  N1,000 or below, depending on the location and the seller.

It was gathered that between February and March, the price of LPG rose to around N1,300 and above in some locations.

Moreso, in February, the National Bureau of Statistics (NBS) said the price of 12.5kg of LPG increased by 46.88 per cent in one year.

According to NBS, the average price for refilling a 12.5kg cylinder of cooking gas in February increased to N15,060.38, compared to N10,253.39 in February 2023.

According to the NBS, the average retail price for refilling a 12.5kg cylinder of LPG went up by 28.33 per cent in a month — from N11,735.72 in January 2024 to N15,060.38 in February 2024.

Speaking on the development, the Minister of Petroleum Resources (Gas), Ekperikpe Ekpo, said the reduction in the price of LPG  was a result of the efforts being made by the Federal Government, through the Ministry of Petroleum Resources (Gas) with the full support of relevant regulatory agencies in the sector and even operators to increase the volume of domestically produced cooking gas coming into the local market.

The FG is poise on crashing the price of LPG as well as maintain the current price of CNG in the country.

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