Depot Owners Release New Cooking Gas Prices as Retail Rates Near N1,500 Per Kg
- Nigerian households are facing rising cooking gas prices as global crude oil costs soar
- Nigerian crude outperforms global benchmarks, driven by strong international demand and competition
- Retail prices for cooking gas are near N1,500/kg, raising concerns about energy accessibility for families
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The sharp rise in global crude oil prices is piling fresh pressure on Nigerian households, with the cost of liquefied petroleum gas (LPG), commonly known as cooking gas, climbing steadily across the country.
Industry data shows that depot owners and marketers have again adjusted LPG prices upward as crude oil prices continue to soar amid escalating tensions in the Strait of Hormuz, a vital shipping route responsible for nearly 20% of global oil supply.
Source: UGC
Recent market figures show Brent crude trading above $110 per barrel, while some Nigerian crude grades have climbed as high as $120 per barrel due to tightening global supply concerns.
Nigerian crude outperforms global benchmarks
Nigeria’s premium crude grades recorded stronger gains than major global oil benchmarks in the latest trading session.
As of 8:05 a.m. (WAT), Brent crude traded at $110.5 per barrel, down 1.42%, while West Texas Intermediate (WTI) stood at $103.7 per barrel, according to data from Oilprice.com.
However, Nigerian grades posted sharper increases. Brass River crude rose to $116.05 per barrel, gaining $3.68 or 3.27%, while Qua Iboe climbed to $115.95 per barrel, also up by $3.68 or 3.28%.
Analysts say the strong performance reflects growing international demand for Nigeria’s light sweet crude, especially from refiners in Europe and Asia seeking cleaner and more efficient refining options amid global supply disruptions.
The widening gap between Nigerian crude and global benchmarks also highlights increasing competition for limited high-quality crude supplies as geopolitical uncertainty rattles the energy market.
LPG depot prices cross N1,200 per kg
The surge in crude oil prices is now filtering directly into Nigeria’s domestic energy market.
According to data from PetroleumPriceNG, depot operators are raising the prices of petroleum products, including petrol and cooking gas, to cushion themselves against market volatility and possible losses.
Findings by Legit.ng show that as of Tuesday, May 19, 2026, average depot prices for cooking gas have moved above the N1,200 per kilogram mark.
Several major marketers have already revised their prices upward:
- NAVGAS – N1,200 per kg
- Ardova – N1,065 per kg
- Stockgap – N1,250 per kg
- RainOil Lagos – N1,120 per kg
Depot operators say the adjustments are necessary to reflect prevailing international market realities and rising supply costs.
Retail prices near N1,500 per kg
Across many parts of Nigeria, retail cooking gas prices are reportedly approaching N1,500 per kilogramme, worsening the financial burden on households already struggling with inflation and rising living costs.
The latest increase has sparked fears that many families may abandon cooking gas entirely and return to cheaper alternatives such as charcoal and firewood.
Source: Getty Images
Energy experts warn that continued pressure on LPG prices could reverse years of progress made in promoting cleaner cooking energy in Nigeria.
The International Energy Agency has also raised concerns over tightening global crude reserves, adding to fears that energy prices may remain elevated for an extended period if geopolitical tensions persist.
Cooking gas shortage hits Lagos
Legit.ng earlier reported that fresh concerns are rising across Nigeria’s energy market as a growing shortage of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, threatens to trigger another round of price increases for households and businesses.
New market checks have shown tightening LPG supply across major depots in Lagos, with only a handful of facilities currently maintaining sufficient stock for loading operations.
The development has raised fears among marketers and consumers that retail cooking gas prices may soon rise further if supply challenges persist.
Source: Legit.ng
