Cooking Gas Depot Prices Jump by ₦200 per kg in Lagos
By Aboki Forex —
Liquefied petroleum gas depot prices in Lagos have risen by ₦200 per kilogramme in two days. Major depots moved LPG from ₦1,050 per kg on September 14 to ₦1,250 per kg on Wednesday, September 16, a 19.05% increase.
Marketers linked to Dangote Refinery also raised their LPG price from ₦1,000 per kg to ₦1,150 per kg. The increases come amid tightening supply in Lagos and renewed disruption in global energy markets.
Depots push up prices in 48 hours
Price data tracked by Petroleumprice.ng showed that major depots, including Navgas, Ardova and Nipco, raised their LPG prices within 48 hours. The move represents a 19.05% increase, adding fresh pressure to Nigerian households already battling rising living costs.
The latest adjustments are not limited to the three major depots. Marketers linked to Dangote Refinery have also increased their LPG prices from ₦1,000 per kg to ₦1,150 per kg.
LPG availability in Lagos reportedly tightens. Only a limited number of depots are said to have products available. The supply squeeze is forcing marketers to compete for available stock, creating additional upward pressure on depot prices.
Global energy risks add pressure
The LPG price increase comes as global energy markets face renewed uncertainty following disruptions to major oil transportation routes linked to the escalating Middle East crisis.
A major development is the shutdown of Saudi Arabia’s East-West Pipeline after an attack. The pipeline carries crude from eastern Saudi Arabia to Yanbu on the Red Sea. It serves as an alternative route to shipments through the Strait of Hormuz.
The continued closure has raised concerns over Saudi Arabia’s ability to maintain crude export flows if the disruption persists. At the same time, restrictions on Iranian oil exports and disruptions around key international shipping routes are adding to concerns over global energy supplies.
For Nigeria, developments in the international market could put additional pressure on petroleum product prices, particularly where local supply is constrained.
What households may face
The depot increases could eventually filter down to retail outlets. Marketers add transportation, distribution and other operating expenses to their prices.
If the current upward trend persists, households could pay significantly more when refilling their cooking gas cylinders. The situation will be watched closely by consumers and marketers. Any prolonged supply constraint could worsen LPG availability and push retail prices even higher.
For Nigerian households, the immediate risk is another rise in cooking gas refill costs if depot prices continue to climb. Retailers may pass on the higher cost, adding to the pressure on family budgets.