Dangote Refinery slashes cooking gas price, depots follow with cuts
By Aboki Forex —
Cooking gas prices are dropping across Nigeria after Dangote Refinery cut its LPG depot price by N170 per kilogramme. The move has brought relief to households struggling with high living costs.
The refinery reduced its price from N1,400 to N1,230 per kilogramme. That is a 12.14% decline. Several depot operators in Lagos have followed suit. Rain Oil dropped its price to N1,330, NIPCO adjusted to N1,380, and Techno Oil now sells at N1,385 per kilogramme.
Industry observers say the price cut is one of the biggest single reductions in recent months. They expect it to force more depot owners to lower their rates to stay competitive.
Experts link the decline to falling global crude oil prices. Geopolitical tensions in the Middle East have eased after the United States reached an agreement with Iran. That has helped reopen the Strait of Hormuz, a key route for oil shipments.
Some analysts predict LPG prices could fall further to N900 per kilogramme by the end of the year. That would ease financial pressure on millions of Nigerian households.