Cooking gas prices surge again as LPG scarcity hits Nigerian depots
By Aboki Forex —
Nigerian households are facing another sharp increase in cooking gas costs as persistent liquefied petroleum gas (LPG) scarcity at depots pushes retail prices to alarming levels across the country.
The latest price surge has deepened concerns among consumers already grappling with rising inflation, high transport costs, and the increasing expense of essential goods and services.
Industry operators say supply shortages at major LPG depots have disrupted market activity, forcing marketers to raise prices.
Retail prices hit N1,400 per kg
Major cooking gas retailers have already revised their prices. Gasland, a notable dealer, now sells LPG at about N1,400 per kilogram, up from N1,200 per kilogram recorded just a week ago.
The development has raised fears that prices may continue to climb if supply conditions fail to improve in the coming weeks.
Global oil volatility drives costs
Energy policy experts have linked the rising cost of cooking gas to growing volatility in the international crude oil market. According to analysts, tensions between the United States and Iran over the Strait of Hormuz have heightened concerns about global energy supplies. The strategic waterway transports nearly 20% of the world's crude oil, making it one of the most critical energy routes globally.
As global crude prices rise, import costs and domestic pricing pressures for cooking gas also increase, ultimately affecting consumers.
Depot prices rise across board
Data from PetroleumPriceNG shows that major LPG depots implemented fresh price adjustments over the weekend. Dangote Refinery raised its ex-depot price to N1,120 per kilogram from N1,035. Ardova increased its price to N1,065 per kilogram, while NAVGAS now sells at N1,200 per kilogram. Techno Oil recorded one of the highest depot prices, with LPG selling at N1,275 per kilogram.
These increases have squeezed marketers, many of whom have passed the additional costs directly to consumers.
A market survey across several locations revealed that the street retail price of cooking gas has climbed to nearly N2,000 per kilogram in some areas. The sharp rise has triggered anxiety among households that rely heavily on LPG for daily cooking, with many families now forced to reduce consumption or seek alternative energy sources.
Experts call for government intervention
Energy policy analyst Osas Igho said the surge in cooking gas prices is placing additional pressure on consumers already battling inflation and a rising cost of living. According to him, many Nigerians are finding it increasingly difficult to absorb the growing expenses associated with transportation, food, and household energy.
He urged the federal government to consider temporary measures to cushion the impact on consumers until supply conditions stabilise.
Analysts warn that unless depot supply improves and tensions in the global oil market ease, cooking gas prices may remain elevated, prolonging the financial burden on millions of Nigerian households.