A report indicates that the price of liquified petroleum gas (LPG), also known as cooking gas, has crashed.
According to a market survey carried out by Legit, dealers have crashed the product’s price to ₦900 per kilogramme from the ₦1,300 it sold weeks ago.
LPG dealers have reported improvement in supplies from various depots, saying that the price also crashed due to the relative availability of foreign exchange for import.
A manager at Gasland depot in the Iju-Ishaga area of Lagos, who pleaded anonymity, told the aforementioned publication that the price crash also followed the Nigerian government’s removal of value-added tax (VAT) from the product.
The manager said, “We are witnessing supply improvements, and more marketers can access the products. Also, we have noticed an improvement in forex availability for importers to bring in the product.”
He stated that the deport sold the product at ₦1,300 per kilogramme two weeks ago but crashed the price to ₦900.
He revealed that 12.5kg sells for about ₦10,000 from the ₦14,300 it sold two weeks prior.
