By Idriss LAWAL
From N1,500 last week, the domestic cooking gas has crashed to N1100 per kilogramme, according to a survey carried out by Newsafricng.com.
This is the average price, though in some areas it ranges between N1, 100 and N1, 400 per kilogramme.
Industry watchers attributed the price drop to improved product supply and lower depot prices.
Prior to the price cut, a kilogramme of domestic gas sold for as high as N2, 000 and above.
The hike in price was due to the Iran war and the closure of the Strait of Hormuz. The strait has since been opened up.
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But in Abuja, the commodity sold for between N1,250 and N1,500 per kilogramme: consumers in cities like Port Harcourt, Benin City, Warri, Onitsha, and Enugu bought the product for between N1,150 and N1,450 per kilogramme.
In Kano and Kaduna states, prices ranged from N1,300 to N1,550 per kilogramme, while Maiduguri and some communities in the Northeast still pay as much as N1,650 per kilogramme.
The price variation, as obtained in the oil and gas business, is a function of the cost of transportation, which is determined by the proximity to the point of sourcing the commodity.
A kilogram of cooking gas, which was being sold for between N900 and N1,000 in April, rose sharply to between N2,000 and N2,500 in many parts of the country.
The National President, Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), Edu Inyang, confirmed that the tremendous improvement in the stock flow of the commodity into the domestic market informed the price crash.
It is expected that the price will crash even below that as in the next few days.
