NNPC Slashes Cooking Gas Prices by N120 Across Filling Stations
by Dave Ibemere, https://www.facebook.com/legitngnews · Legit.ng News · Join- The price of cooking gas at Nigerian National Petroleum Company filling stations has dropped by N120
- With the new price, Nigerians will now pay less to refill their cooking gas cylinder across the country
- Cooking gas price changes follow the reduction of the petrol price after the Dangote refinery slashes ex-depot cost
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian National Petroleum Company (NNPC) Limited filling stations has reduced the retail price of liquefied natural gas (LPG), also known as cooking gas.
Legit.ng visited several stations on Monday, July 14 and observed that 1kg is now priced at N1,080.
This represents a N120 reduction compared to the N1,200 offered in June.
The new price is now reflected across several NNPC retail stations; only a few still set prices at N1,100.
With the new price, it means Nigerians will have to pay N10,800 to refill a 10kg cooking gas cylinder, a drop from the previous price of N12,000
A filling station attendant at Ipaja, Lagos, Kunle Adebayo, said that the new price was implemented on Friday last week.
He told Legit.ng:
“Yes, we have adjusted our LPG prices to below N1,100. The new price of N1,080 will, I’m sure, be reflected across NNPC stations, especially in Lagos.”
Insight into new cooking gas prices
Here is a snapshot of what Nigerians will pay to refill their cooking gas cylinder as prices change to N1,080:
- 1kg: N1,080
- 2kg: N2,160
- 3kg: N3,240
- 5kg: N5,400
- 6kg: N6,480
- 10kg: N10,800
- 12.5kg: N13,500
- 15kg: N16,200
- 20kg: N21,600
- 25kg: N27,000
- 30kg: N32,400
- 40kg: N43,200
- 50kg: N54,000
New cooking gas prices at depots
The cost of cooking gas has also changed at depots.
Data obtained from LPG in Nigeria showed that the price of 20 metric tons of LPG has dropped from N18 million to between N17.5 million and N17.8 million, depending on the marketer.
Rain Oil, one of the largest depot owners in Nigeria, is offering its 20MT LPG at N17.2 million, while Dangote Refinery is offering the cheapest price, selling at N16.7 million.
Olatide Jeremiah, energy expert and CEO of Petroleumprice.ng said:
"Dangote Refinery, the major refiner and distributor of cooking gas in Nigeria has edged out private depot owners and importers by consistently driving prices downward.
"He is currently in control of 50% of LPG market because of its storage and loading in trucks capacity, which gives him the leverage over other players that need to face the encumbrances of importation"
Petrol price drop
Earlier, Legit.ng reported that several filling stations across the country have adjusted their petrol prices.
Two is currently offering a price below the rate of the Nigerian National Petroleum Company (NNPC).
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has also promised to reduce petrol prices.