Prices of Liquefied Petroleum Gas (cooking gas) in Africa’s biggest economy fell for the first time in a year in May, offering an unexpected and brief respite to households.
The price of a 12.5kg cylinder of cooking gas dropped by 30 percent owing to lower crude oil prices and a decline in global gas prices.
In a survey of major cities in Nigeria, the price of cooking gas is trending downwards to N7,000 currently from N10,000 two months ago.
ALSO READ:
- Lenders Push Back as Failed Pipeline Sale Is Quietly Revived
- ENERGY TIMES Award Holds Today in Lagos
- Energia Appoints Oladimeji Bashorun as CEO
- ENERGY TIMES to honour Adelabu, Yahaya, Attah, Others April 17
- Artemis II Crew Splashes Down from Moon into Pacific Ocean at 1:08 a.m. Nigerian Time
The drop in price is expected to ease some of the burden on cash-strapped households, who have been dealing with accelerating inflation since last year coupled with the recent hike in fuel prices as a result of subsidy removal.
