Cooking gas prices rise as Dangote, NIPCO, Matrix hike LPG depot rates
By Aboki Forex —
Cooking gas prices are rising across major Nigerian depots after Dangote Refinery, NIPCO and Matrix adjusted their liquefied petroleum gas (LPG) rates. The increases were recorded in Lagos, Calabar, Port Harcourt and Warri, according to market data from PetroleumPriceNG.
Dangote Refinery raised its LPG price to ₦980 per kilogram from ₦970, an increase of ₦10. NIPCO's price was listed at ₦1,050 per kilogram, while Matrix Warri was quoted at ₦1,100 per kilogram.
Depot prices feed into retail
The adjustments at depot level could gradually filter through to retail outlets, where consumers typically pay more once transportation, distribution and other operating costs are added. Households may face higher prices when refilling their cylinders if the upward movement persists.
Cooking gas has become a key household fuel for millions of Nigerians, so any sustained increase at the depot level tends to travel quickly to the retail end of the market.
Brent crude climbs above $100
The LPG price adjustments come amid renewed volatility in the global energy market, with Brent crude trading above the $100-per-barrel mark. At 8:47 a.m. WAT on Tuesday, Brent was at $107.60 per barrel, up 1.80%, while US West Texas Intermediate stood at $103.30 per barrel, gaining 1.85%.
The rally followed growing concerns about disruptions to Middle East energy supplies after attacks on Saudi energy infrastructure and heightened security risks around critical shipping routes.
One major concern is the shutdown of Saudi Arabia's East-West Pipeline following an attack. The pipeline offers an alternative route for moving crude from eastern Saudi Arabia to the Red Sea port of Yanbu, cutting reliance on routes around the Strait of Hormuz. Its continued closure has raised questions about Saudi Arabia's ability to maintain export flows if the disruption lasts.
Industry analysts expect energy prices to remain volatile in the short term, particularly if tensions in the Middle East keep threatening crude production and shipping routes.
What it means for households
The latest LPG adjustments matter because cooking gas is a daily necessity for many Nigerian families. A sustained rise at the depot level would eventually push retail prices higher and force households to spend more each time they refill their cylinders.
For families already dealing with elevated food, transport and energy costs, another increase in cooking gas prices could squeeze disposable income and monthly budgets further.
The pressure is not limited to cooking gas. Diesel prices have also climbed, with retail rates exceeding ₦2,000 per litre in parts of Abuja. Dangote Refinery's gantry rate stood at ₦1,850, while some Lagos depots cut their prices to ₦1,790 per litre, below Dangote's benchmark.