Cooking gas price in nigeria for 12.5KG falls to N6950 in June 2023

Cooking gas price in nigeria for 12.5KG falls to N6950 in June 2023…..

On Sunday, Wale Adedayo, a freelance writer, took to the microblogging platform to share a receipt for cooking gas purchased on June 1.

The receipt showed that 12.5 kg of cooking gas — which reportedly ranged between N9,375 and N13,000 in May — now goes for N6,950.

“12.5kg of Cooking Gas in May – N9375, 12.5Kg of Cooking Gas in June – N6950. Maybe…just maybe…we should speak out when prices go down too. This feels good,” he wrote.

Martha Ogunsanya, a resident of Shimawa, Lagos, said she noticed the price fall from N850 per kg at the end of April to N600-N550, but that the local gas retailers in her area still sold per kg for N800.

This development eases some of the burden on cash-strapped households, who have been dealing with a hike in the price of the commodity since the beginning of last year coupled with the recent surge in petrol prices as a result of subsidy removal. The receipt was also shared by many others on Twitter in different contexts.

The development comes on the heels of controversies trailing President Bola Tinubu’s announcement that “fuel subsidy is gone“. “LPG is an international commodity, with about 65 percent of domestic gas coming from imported sources,” Oga Adejo-Ogiri, executive secretary of the Association of Local Distributors of Gas, said.

He said prices in the country are linked to an international benchmark called Mont Belvieu, which has been on the downward slope for the last couple of months.