Cooking Gas Prices Spike Again as Depot Operators Raise Rates

Nigerians are facing another surge in cooking gas prices after major suppliers, including Dangote Refinery, increased depot rates. The latest adjustment has pushed prices up by more than N100 per kilogramme in some locations. This is expected to strain household budgets already hit by rising food costs, transportation expenses, and inflation.

Industry observers blame the hike on ongoing volatility in the global crude oil market. Geopolitical tensions, particularly around the Strait of Hormuz, are driving uncertainty in energy supply chains. Analysts warn that prices may remain unstable until the situation stabilises.

Depot Prices Rise Across the Board

Data from PetroleumPriceNG shows several leading LPG suppliers have revised their ex-depot prices upward. Dangote Refinery increased its LPG price to N1,250 per kilogramme from N1,200. Rainoil Lagos recorded one of the highest jumps, raising its price by N160 to N1,280 per kilogramme. Stopgap fixed its price at N1,250, NAVGAS moved to N1,200, and NIPCO Lagos now sells at N1,275 per kilogramme.

Marketers say the adjustments reflect efforts to align with rising replacement costs and market realities.

Retail Prices Hit Consumers Hard

Retail LPG prices now range between N1,600 and N2,000 per kilogramme, depending on location and distribution margins. For households that rely on cooking gas as their main energy source, monthly expenses are rising sharply.

Experts Call for Government Intervention

Financial analyst Osas Igho urged the Federal Government to step in. “Right now, Nigerians urgently need the government’s intervention to cushion the hardship and provide a soft landing for families already struggling with the harsh economic climate,” he told Legit.ng. He suggested a short-term subsidy or targeted support programme to help struggling families.

Many Nigerians are already battling economic hardship. Further increases in essential commodities like cooking gas are becoming difficult to absorb.

Consumers can only hope for greater stability in global energy markets. Continued volatility may trigger more price adjustments in the weeks ahead.

Legit.ng earlier reported that cooking gas prices had climbed above N1,500 per kilogramme in several cities, up from an average of N1,300. Dealers warned of further rises if supply remains tight. Operators attribute the squeeze to depot shortages, high replacement costs, logistical problems, and foreign exchange pressure.