"> WEEKLY LPG INSIDER REPORT | KiakiaGas

WEEKLY LPG INSIDER REPORT


In the immediately preceding week, prices on the foreign and domestic markets for LPG saw a slight increase.
 

  • The international prices of LPG fluctuated throughout the week. However, it ended at a higher price compared to the price in the middle of the week.

  • Depot prices have shown some appreciation compared to the previous week.

  • There is consistency in the narrowing of the price differences between prices at the depot level and those at the international level.

  • Price changes per kg of LPG in the week under review and in the past few weeks have remained within the limited range.

  • Recently mayhem and disruption of economic activities in parts of the country are yet to start to affect prices in the market.

  • Regional disparities in the retail prices of LPG within the country continue to persist.

     

     

     

    Regional disparity in the prices of LPG across the country has been a regular feature of the Nigerian LPG market. The North-West region has the highest prices due to distance from the coastal regions.

     

     

     

    • The exchange value of the naira to the US. $ has remained at the pegged price of N380 to US.$1 throughout the week (Figure D).

    • For the gas market, the Purchasing Managers Index (PMI) of the CBN report declining Business Activities, and New Orders, and employment & inventory for the month of September 2020 still persist. The declining trend in new orders and employment are faster than those in business activities and inventory.

    • High inflation rates as in the previous months still persist. The persistent rise in inflation in the past more than 14 months (in September 13.7%, August 13.2%, July 12.8%, June at 12.6% from the 12.4% recorded in May 2020) has implications for the price of LPG across the country. More importantly, the composite food index rose by 16.16% in September from 16.0% in August, 15.48% in July 2020 compared to 15.18% in June 2020.

    • The Prices of crude oil in the international market fluctuated throughout the week. However, the price fall at the end of the week compare to the middle of the week (Figure E).

    • Since the demand for food and cooking gas are complimentary, the growing food inflation may signal a drop in demand for LPG by households in the weeks to come.

       

       

       

       

       

      The prices in the weeks to come may rise due to the unrest situation of the country in the previous week.

       

      Kindly book for a free session with our team of experts to help you http://www.kiakiagas.com/book-session or write us an email at advisory@kiakiagas.com or Whatsapp: +2348085269328

 


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