Cooking gas prices crash to ₦1,100 per kg after weeks of scarcity
By Aboki Forex —
Nigeria's Liquefied Petroleum Gas (LPG) prices have dropped sharply. The average price is now ₦1,100 per kilogramme. This follows weeks of scarcity that pushed costs to record highs.
Fresh market checks by Petroleumprice.ng show that wholesale prices have fallen from ₦1,500 per kg. At the height of the crisis, some locations sold cooking gas for as much as ₦2,200 per kg.
Lagos is leading the price decline. Techno Oil now sells LPG at ₦1,095 per kg, the cheapest among major depots. Other marketers like Navgas, Nipco, Mobil (11 Plc) and Ardova are selling at ₦1,100 per kg. Competition is intense as supply improves.
In the Niger Delta, Matrix Energy's Warri depot offers LPG at ₦1,150 per kg. The price gap between regions is narrowing as more products become available nationwide.
Industry players say the price crash is due to increased imports, stronger domestic production and better inventory levels. Several terminals are now actively supplying LPG. The market has moved from scarcity to abundance.
Experts predict further price cuts to ₦900 per kg if robust supply and competition continue.