TOP SECRET REVEALED! WATCH THE DOCUMENTARY THAT HAS BEEN HIDDEN FOR YEARS ON HOW ASO ROCK WAS BUILT, AND THE SECRET POWER BEHIND IT, WHY IT HARD FOR POWER HANDLERS TO BUILD THE COUNTRY.The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, remains a critical concern for Nigerian households due to ongoing fluctuations influenced by various factors. ...Tap To Read The Full Story Here | ..Tap To Read The Full Story Here...
Prices have shown slight variations across regions this week, driven by transportation costs, exchange rate dynamics, and shifts in local demand and supply.
Key Factors Affecting LPG Prices
- International Market Prices:
Global LPG prices heavily influence domestic prices since Nigeria imports a large portion of its cooking gas. This dependency exposes the market to international price fluctuations. - Exchange Rate Volatility:
The value of the naira against the dollar significantly impacts LPG prices. A weakened naira increases import costs, which translates to higher retail prices for consumers. - Transportation Costs:
High transportation expenses, fueled by rising fuel costs, have driven up the cost of distributing LPG from coastal depots to various regions, particularly those far from supply hubs. - Demand-Supply Dynamics:
A slight drop in post-festive season demand has led to minor price reductions in some areas. However, locations with supply bottlenecks or heightened demand still report elevated prices. - Domestic Supply Challenges:
Despite being rich in natural gas, Nigeria’s limited local refining and processing capacity forces heavy reliance on imports. This dependency makes the market vulnerable to global price changes.
Current LPG Prices in Nigeria
- 1kg Cooking Gas: ₦1,300
- 3kg Cooking Gas: ₦3,900
- 5kg Cooking Gas: ₦6,500
- 6kg Cooking Gas: ₦7,800
- 10kg Cooking Gas: ₦13,000
- 12.5kg Cooking Gas: ₦16,250
The fluctuations in LPG prices highlight the need for sustainable solutions to stabilize the market. Expanding domestic refining capacity, improving transportation infrastructure, and addressing foreign exchange challenges could help mitigate the impact on households.TOP SECRET REVEALED! WATCH THE DOCUMENTARY THAT HAS BEEN HIDDEN FOR YEARS ON HOW ASO ROCK WAS BUILT, AND THE SECRET POWER BEHIND IT, WHY IT HARD FOR POWER HANDLERS TO BUILD THE COUNTRY.
As the country navigates these challenges, consumers must adapt to regional price variations while policymakers focus on long-term strategies to reduce dependency on imports and improve local production.…Read_ The_ Full: Story_ Here.