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Cooking Gas Supply Drops By 20.5% As Kerosene Leaps 0.7% To N400/Litre In August

LPG

September 17, (THEWILL) – Nigeria’s supply of Liquified Petroleum Gas (LPG) also known as cooking gas declined by 20.5 per cent in August 2021 to 85,264.803 Metric Tonnes (MT) compared with the previous month.

This was disclosed by the Petroleum Products Pricing Regulatory Agency (PPPRA) in its LPG report released in Abuja on Friday.

The decline came as companies desperately sought suppliers in different countries including the USA, Algeria, Equatorial Guinea to meet the local shortfall.

According to the report, data showed that 38,040.457 MT was sourced locally by Ever Oil, Stockgap, NIPCO, 11 plc, Greenville Natural Gas, PNG Gas Ltd, Nigerian Petroleum Development Company (NPDC) Ltd, and Ashtavinayak Hydrocarbon Ltd.

It showed that 47,224.346 MT was imported by NIPCO, Matrix, Algasco, Techno Oil, Prudent, A.A Rano and Stockgap.

The report further revealed that 21,606.301 MT was imported from the USA, 13,044.266 MT imported from Algeria and 12,573.779 MT brought into the country from Equatorial Guinea.

The report noted that “The volume of LPG supplied in August suggests a decrease of about 21,959.781mt compared to 107,224.584 MT supplied in the month of July.

“In addition, 102,787.234 MT was also supplied in the Month of June.”

According to the report, out of the 38,040.457 MT sourced locally, 7,042.058 MT was sourced by Ever Oil, 9,429.761 MT by Stockgap, 7,687.112 MT by NIPCO, 4,761.626 MT by 11 plc and 440.380 MT by GreenvilleRumuji, Rivers State.

It stated that PNG Gas Ltd in Ebedei, Delta State supplied 651.490 MT into the market, while NPDC, Oredo, Edo State provided 1,055.310 MT and Ashtavinayak Hydrocarbon Ltd Kwale, Delta State, discharged 6,972.720 MT.

“Similarly, 11,262.04 MT of propane was sourced locally and supplied into the energy market by NPDC and Ashtavinayak Hydrocarbon”, it said.

In a related development  the average price per litre paid by Nigerians for National Household Kerosene increased by 0.7 per cent to N400 in August from N397.34 in July 2021, a report from the National Bureau of Statistics (NBS) has shown.

The National Household Kerosene Price Watch for August 2021 also showed that the value of the commodity rose 15.4 percent compared with the N346.53 recorded in August 2020.

According to the NBS, the state with the highest average price of kerosene was Enugu, where the household oil was sold to consumers at N494.05 per litre. This was followed by Ebonyi and Cross River where people bought the product for as high as N489.17 and N487.50 per litre respectively.

On the flip side, residents in the core of the Niger Delta region, Bayelsa State, bought the commodity at the lowest average price per litre – N255.56. This was followed by Katsina and Osun States where kerosene was sold for as low as N322.92 and N325.00 per litre respectively.

Meanwhile, the average price of the common household oil sold per gallon also went up by 1.8 per cent month-on-month from N1,302.56 in July to N1,325.39. It also indicated an 8.8 per cent increase compared with the N1,218.48 per gallon in the same time of last year.

Analyzing the price across the states in the country, it was observed that Plateau and Sokoto recorded the highest average cost of the oil per gallon as consumers paid N1,757.14 and N1,580 respectively.

However, in the southern region of the country, precisely in Rivers and Bayelsa, the product was sold at its lowest within the period at N964.75 and N991.67 per gallon, while residents of Yobe State bought the product at N991.67

However, the average kerosene prices per litre across geopolitical zones in the country recorded the highest in the South-East region at N439.58, while the North-West zone recorded the lowest at N354.41 per litre.

The average value of the oil sold per gallon peaked at the North-central zone at N1,377.64 but was sold at its lowest at the south southern part of the country at N1,235.53 within the period.