There is currently a surge in the demand for Liquefied Petroleum Gas, popularly called cooking gas, leading to marginal price hike following the recent decision of the Nigeria Liquefied Natural Gas company to channel all its LPG into the domestic market.
Speaking on the impact of the NLNG announcement on the sales of cooking gas, marketers of LPG told our correspondent on Wednesday that the move had triggered a surge in demand, which warranted a slight hike in price. He said, “We should be conscious this time, for after the announcement was made we recorded a slight increase in LPG price. So we have to welcome that announcement with caution.”
Umudu added, “This is because with the announcement, if care is not taken, some of the importers who started importing, leading to a reduction in price for about a month before that decision, may decide to stop imports believing that they will not be able to compete with NLNG.
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