The much awaited NLNG vessel -Gas Providence laden with 13,000MT of Liquefied Petroleum Gas (LPG) berthed and discharged the product at the NOJ Apapa, the situation that may ease the scarcity of the cooking gas in the nearest future.
Sources said the NLNG claimed that price of gas is now being denominated in dollars which is making it a bit high for marketers but the campany refutted any price increase on the product.
A distributor told Daily Trust that the current price of 20MT goes as follows – NNPC LPG plant at Apapa -N5.3million ,NIPCO LPG plant – N5.4million ,Navgas – N5.5million for bulk buyers and N6million for third parties who buy from the bulk buyers .
The average selling price at virtually all the depots is N5.4million for 20MT as against less than N5million early December last year .
Source said the LPG product pricing is always guided by available product and may sometimes drop if the depot operator wants to create haulage since most of the LPG storage are small compared to present demand and coupled with the fact that LPG vessel cost a lot of money to charter with attendant high demurrage if not discharge on time to allow the vessel sail out.
Another scenario that may force down prices is continuous supply by NLNG through the coming of their vessels at least once in a fortnight; But LNG said it will sustain the supply momentum.
At the local market the average price of the 12.5 kg now goes for 5,000 compared to N3,400 early December, 2016.