Marketers Slash Cooking Gas Prices, Release New Rates
- Cooking gas depot prices dropped by up to N7 per kilogram as major LPG marketers adjusted their wholesale rates
- PPMC recorded the steepest cut, lowering its price to N1,010/kg, while Matrix Warri was the only marketer to raise its rate
- Industry observers said sustained depot price reductions could push retail refill costs lower for Nigerian households
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
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, showed 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.
Source: Getty Images
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 petroluemprice.ng show.
The only marketer to move in the opposite direction was Matrix Warri, which added N2 to its price, bringing it to N1,100/kg.
The new cooking gas depot prices are:
- 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)
Industry sources attributed the downward movement to greater competition among suppliers and improved product availability at the wholesale level.
What the price cuts mean for consumers
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 the availability of supply across different regions.
Source: Getty Images
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.
10 most expensive states to buy cooking gas
Earlier, Legt.ng reported that the National Bureau of Statistics (NBS) 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).
Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
