Cooking Gas Price Jumps by ₦200 Within 48 Hours as LPG Depot Price Hits ₦1,250/kg
- LPG depot prices in Lagos have risen by ₦200 per kilogramme, from ₦1,050 to ₦1,250, representing a 19.05% increase in two days.
- Marketers linked to Dangote Refinery also raised their LPG price from ₦1,000 to ₦1,150 per kg amid tightening supply and global energy market disruptions.
- The price hikes could soon push up cooking gas costs for households if the supply constraints continue.
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Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
Lagos residents may be heading for another increase in cooking gas prices as depot prices of liquefied petroleum gas (LPG) have surged by ₦200 per kilogramme in just two days.
The sharp increase means consumers could soon pay more to refill their gas cylinders if the latest depot price hike is passed on to retail outlets.
Source: UGC
Price data tracked by Petroleumprice.ng showed that major depots, including Navgas, Ardova and Nipco, raised their LPG prices from ₦1,050 per kg on September 14 to ₦1,250 per kg on Wednesday, September 16.
That represents a 19.05% increase in just 48 hours, adding fresh pressure to Nigerian households already battling rising living costs.
Cooking Gas Price Shock Hits Lagos
The latest 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 and 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.
Dangote-Linked Marketers Also Raise LPG Prices
The pressure is not limited to the three major depots.
Marketers linked to the Dangote Refinery have also increased their LPG prices, moving from ₦1,000 per kg to ₦1,150 per kg.
The latest adjustments come as LPG availability in Lagos reportedly tightens, with only a limited number of depots said to have products available.
The supply squeeze is forcing marketers to compete for available stock, creating additional upward pressure on depot prices.
If the situation continues, the combination of tighter supply and rising international energy market risks could trigger further increases in the price of cooking gas across Lagos.
Source: Getty Images
Lagos Households Face Higher Refill Costs
The latest depot increases could eventually filter down to retail outlets, where marketers add transportation, distribution and other operating expenses to their prices.
This could leave households paying significantly more when refilling their cooking gas cylinders if the current upward trend persists.
The development will be closely watched by consumers and marketers, particularly as any prolonged supply constraint could worsen LPG availability and push retail prices even higher.
Source: Legit.ng
