Cooking Gas Depot Prices Drop by N7/kg as Marketers Cut Wholesale Rates

Liquefied Petroleum Gas (LPG) marketers have slashed depot prices, offering distributors lower wholesale rates and raising expectations that cooking gas refill costs could ease for Nigerian consumers in the weeks ahead. Fresh market data on Thursday, July 16 shows that PPMC recorded the sharpest reduction, cutting its depot price by N7 per kilogram to N1,010/kg, a 0.69% decline from the previous rate of N1,017/kg.

Price Breakdown Across Marketers

Rainoil Lagos followed with a N2 reduction, bringing its depot price down to N1,030/kg. NIPCO Lagos held its rate steady at N1,025/kg, data from petroleumprice.ng shows. The only marketer to move in the opposite direction was Matrix Warri, which added N2 to its price, bringing it to N1,100/kg.

Here are the latest depot rates per kilogram:
PPMC: N1,010/kg (down N7 or 0.69%)
NIPCO Lagos: N1,025/kg (unchanged)
Rainoil Lagos: N1,030/kg (down N2 or 0.19%)
Matrix Warri: N1,100/kg (up N2)

What Is Driving the Price Cuts

Industry sources attribute the downward movement to greater competition among suppliers and improved product availability at the wholesale level. Depot prices reflect what distributors pay before transportation, storage, and retailer margins are factored in, meaning the reductions do not immediately pass through to the consumer at the point of refill.

Industry observers note, however, that consistent easing at the wholesale level could incentivise retailers to lower their charges, particularly in urban markets where supplier competition is more pronounced. Final retail prices will continue to vary depending on logistics costs, operating expenses, and how readily available supply is across different regions.

Market Outlook and Recent Price Trends

Market analysts expect LPG pricing to remain exposed to fluctuations in international energy markets, foreign exchange movements, and domestic supply conditions. Should wholesale rates continue to soften, more Nigerian households could see relief on their cooking gas bills in the near term.

In a related development, the National Bureau of Statistics (NBS) has reported that the average retail price for refilling cooking gas rose by 13.73% on a month-on-month basis, increasing from N7,655.73 in March 2026 to N8,706.93 in April 2026. The report also showed that the average retail price for refilling a 12.5kg cylinder of LPG rose by 13.89% month-on-month, increasing from N19,652.83 in March 2026 to N22,382.20 in April 2026. Lagos recorded the highest average price for refilling a 5kg cylinder at N9,745.10, followed by Nasarawa (N9,451.70) and Bayelsa (N9,422.74).

What This Means for Consumers

For Nigerian households, the sustained depot price reductions could push retail refill costs lower if the trend continues. With wholesale rates easing and competition among suppliers rising, consumers in urban markets may see the first signs of relief on their cooking gas bills, though logistics and regional supply gaps will still keep prices uneven across the country.