Cooking gas prices have risen again after moderating for most of July due to supply availability.

Findings by Legit.ng show that the price of 12.5kg of cooking gas refill rose to N14,500 from the N13,000 it sold a few weeks ago.

The price of 1kg of cooking gas rose to N1,200 from N900, and the price of 6kg of cooking gas increased to N7,200 from N5,100.

Dealers attribute the rise to the crash of the Nigerian currency, which has depreciated above N1,600 per dollar.

Shortly after the CBN sold dollars to authorized dealers, the naira crashed again in the official and parallel markets.

The naira crashed to N1,609 on Friday, July 26, 2024, in the official market against the N1,606 it traded the previous day.

The naira also crashed on the parallel end of the foreign exchange market, trading at N1,510 per dollar.

Cooking gas dealers also say supply has been an issue as most cargoes are still coming to Nigeria.

A manager at one of the gas depots in the Iju-Ishaga area of Lagos said that the price of cooking gas responds to changes in exchange rates.

If the naira crashes, the prices of imported items, especially liquified petroleum gas (LPG), known as cooking gas, rise.

“So, the only way to contain hikes in prices of items, especially cooking gas, is to contain the exchange rate. Most of the LPG used in this country is imported as the NLNG hardly produces enough,” the manager said.