12.5KG COOKING GAS HITS N12,500
The price of 12.5kg of Liquefied Petroleum Gas, known as cooking gas, has increased to N12,500 in Nigeria.
Gas retailers have hiked the prices of 12.5kg from N10,000 reported towards the end of last month, to around N12,500 in Lagos.
According to the National Bureau of Statistics, the average price for refilling 12.5kg of Liquefied Petroleum Gas in May 2022 was N8,727.30.
Zakka Bala, an oil and gas expert, said the price fluctuations are expected as the sector had been long deregulated.
Meanwhile, Olatunbosun Oladapo, the President of the Nigerian Association of Liquefied Petroleum Gas Marketers, warned that the price of 12.5kg cooking gas could hit as high as N18,000 by December 2023 if regulators did not checkmate the activities of terminal owners across the country.