The Petroleum Products Pricing Regulatory Agency, PPPRA, on yesterday reported that the volume of Liquefied Petroleum Gas, LPG, also known as cooking gas, supplied in August fell by 20.5 percent to 85,264.803 metric tonnes (MT) compared to 107,224.584MT supplied in the month of July. The volume supplied in the month of June was 102,787.234MT.
This sharp decline, according to dealers, may lead to further upward pressure on the retail prices of the product.
Meanwhile, the National Bureau of Statistics, NBS, said the average price of Premium Motor Spirit, also known as petrol, dropped month-on-month (MoM) by 0.58 per cent to N164.91 in August 2021 from N165.91 in July 2021.
However, the price of National Household Kerosene increased by 0.6 percent MoM to N400.01 in August 2021 from N397.34 in July 2021.
The price of LPG has risen significantly in the past nine months with 12.5kg cylinder rising from about N4,000 in January to about N6,900 early this week.
The PPPRA, in a statement signed by its Executive Secretary, Abdulkadir Saidu, explained that 38,040.457 MT was sourced locally by Ever Oil, Stockgap, NIPCO, 11 plc, Greenville Natural Gas, PNG Gas Ltd, NPDC and Ashtavinayak Hydrocarbon Ltd, while 47,224.346 MT was imported by NIPCO, Matrix, Algasco, Techno Oil, Prudent, A.A Rano, and Stockgap.
Additionally, the agency disclosed that the data on importation in the month of August, showed that 21,606.301 MT was imported from the USA, while 13,044.266 MT was imported from Algeria and 12,573.779 MT was brought into the country from Equatorial Guinea.
The PPPRA boss, however, stated: “Since the declaration of the ‘Decade of Gas’, by President Muhammadu Buhari and the Minister of State for Petroleum Resources, Chief Timipre Sylva, the nation has witnessed a significant increase in the volume of LPG produced locally.
“This is due to the commitment of the Federal Government in promoting gas penetration, to ensure a clean source of energy for cooking, power generation and transportation.”
In its Petrol and kerosene Prices Watches for August 2021 released yesterday, the NBS stated: “States with the highest average price per litre of kerosene were Enugu (N494.05), Ebonyi (N489.17) and Cross River (N487.50).
“Similarly, the average price per gallon paid by consumers for National Household Kerosene increased by 1.8 per cent MoM and by 8.8 per cent YoY to N1,325.39 in August 2021 from N1,302.56 in July 2021.
“Average price paid by consumers for premium motor spirit (petrol) increased YoY by 10.9 per cent and decreased MoM by -0.58 per cent to N164.91 in August 2021 from N165.91 in July 2021.
“States with the highest average price of premium motor spirit (petrol) were Abia (N173.14), Ebonyi (N170.13) and Lagos (N168.31). States with the lowest average price of premium motor spirit (petrol) were Niger (N162), Borno(N161.71) and Kano (N158.75).”Follow us on social media