“Excitement as Cooking Gas Prices Plummet: Nigerians Share Receipts and Expect Further Drops.
Cooking gas prices hit a 9-month low, sparking a social media frenzy.
Receipts show prices dropping from N9,375 to N6,950 for 12.5kg. With petrol subsidy removal, more reductions are anticipated. Dive into the latest development
Rejoicing Over Falling Gas Prices
Nigerians are expressing their joy over the drop in the price of cooking gas in June.
A decrease in cooking gas prices was unexpected but happily received by consumers who took to social media to share their good news.
Photos and screenshots of receipts have been posted as evidence of this significant price drop, signifying a substantial relief for many households.
Sharing the Good News: Receipts Posted on Social Media
The drop in cooking gas prices has triggered an outpouring of reactions from Nigerians across various social media platforms.
According to multiple reports, numerous Nigerians took to Twitter on June 1, 2023, to display receipts of cooking gas purchased at the new lower prices.
This act of sharing receipts online not only validates the price drop but also allows Nigerians to express their excitement and relief over this economic development.
From N9,375-N13,000 to N6,950: A Major Price Crash
Among the receipts displayed online was one posted by Wale Adebayo, a writer.
In his tweet, he showcased a receipt showing the new price for a 12.5kg cylinder of cooking gas.
According to Adebayo, prices that were ranging between N9,375 and N13,000 in May now go for just N6,950, marking the lowest cooking gas prices in nine months.
Optimism for Further Price Reductions: The Impact of Petrol Subsidy Removal
Many Nigerians have expressed optimism that with the removal of petrol subsidy, a similar price crash will occur in the petrol market.
This is because subsidies often distort market prices and their removal can lead to more competitive pricing.
While this is a matter of economic debate, the recent experience with cooking gas has given Nigerians reason to hope for better days ahead in terms of petrol pricing.
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