Depot Owners Increase Cooking Gas Prices, Dangote, Others Also Adjust Rates
- Dangote, NIPCO and Matrix raise LPG depot prices across major Nigerian trading hubs
- Brent crude climbs above $100 as Middle East disruptions threaten global energy supplies
- Higher depot prices could push cooking gas costs up for Nigerian households already facing rising living expenses
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Cooking gas prices are rising across major Nigerian depots, adding another layer of pressure on households already grappling with higher food, transport and energy costs.
Latest market data shows that liquefied petroleum gas (LPG) suppliers, including Dangote Refinery, NIPCO and Matrix, have adjusted their prices as volatility in the international energy market intensifies.
Source: Getty Images
The increases are being recorded across major LPG trading locations, including Lagos, Calabar, Port Harcourt and Warri.
Dangote, NIPCO, Matrix adjust LPG prices
Data from PetroleumPriceNG showed that Dangote Refinery raised its LPG price to N980 per kilogram from N970, representing an increase of N10.
NIPCO's LPG price was listed at N1,050 per kilogram, while Matrix Warri was quoted at N1,100 per kilogram.
The adjustments at the depot level could gradually filter through to retail outlets, where consumers typically pay more after transportation, distribution and other operating costs are added.
The development means households may face higher prices when refilling their cylinders if the upward movement persists.
Crude oil surge rattles energy market
The LPG price adjustments come amid renewed volatility in the global energy market, with Brent crude trading above the psychologically important $100-per-barrel level.
At 8:47 a.m. WAT on Tuesday, Brent crude was trading 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 provides an alternative route for transporting crude from eastern Saudi Arabia to the Red Sea port of Yanbu, reducing reliance on routes around the Strait of Hormuz.
Its continued closure has increased concerns about Saudi Arabia's ability to maintain export flows if the disruption lasts for an extended period.
Nigerians face higher household costs
For Nigeria, sustained turmoil in the international energy market could have broader implications for petroleum product prices.
Industry analysts expect energy prices to remain volatile in the short term, particularly if tensions in the Middle East continue to threaten crude production and shipping routes.
The latest LPG adjustments are particularly significant because cooking gas has become an important household fuel for millions of Nigerians.
Source: UGC
Any sustained increase at the depot level could eventually translate into higher retail prices, forcing families to spend more to refill their cylinders.
For households already dealing with elevated living costs, another increase in cooking gas prices could further squeeze disposable income and monthly budgets.
Diesel price crosses N2,000 per litre
Legit.ng earlier reported a sharp rise in diesel prices across Nigeria, with retail rates exceeding ₦2,000 per litre in parts of Abuja.
The report examines higher depot prices, Dangote Refinery’s ₦1,850 gantry rate and the impact on businesses that rely on diesel.
Some Lagos depots, however, reduced their prices to ₦1,790 per litre, below Dangote’s latest benchmark.
Source: Legit.ng
