The price of liquefied petroleum gas, also known as cooking gas, has risen to as high as ₦1,650 per kilogramme in Lagos and Ogun states, and ₦1,800 per kg in Abuja.
TheCable reported on Thursday that LPG prices have increased at retail outlets in some parts of the country.
At Techno Oil outlets in Festac, Lagos, the price rose from ₦1,450 per kg to ₦1,650 per kg.
At NipCo retail stations in First Gate and Trade Fair Complex, the price increased from ₦1,280 per kg to ₦1,480 per kg.
In Ogun State, the price at the Ecogas LPG refilling plant in Sagamu rose from ₦1,500 per kg to ₦1,600 per kg.
At the Oyejo gas station in Shiwun, the price increased from ₦1,450 per kg to ₦1,650 per kg.
In Abuja, TheCable observed that LPG prices rose from ₦1,700 per kg to ₦1,800 per kg, while NipCo sold the product at ₦1,650 per kg at its retail outlets.
The increase followed a 31.8 per cent rise in depot prices, which climbed from ₦1,100 per kg to ₦1,450 per kg within a month.
Commenting on the development, a gas expert, Lawal Taofeek, attributed the price increase to seasonal factors. He said rising global demand was driving up gas prices.
“This is the peak heating season in Europe, when demand for gas rises significantly as countries increase consumption for heating,” he said.
“This seasonal surge in demand puts upward pressure on global gas prices, which in turn affects LPG prices. The trend is expected to continue until late December or early January, as it is a seasonal period of rising gas prices.”
He added that prices should decline as the season ends.
