Cooking Gas Dealers Announce Another Price Hike for 3kg, 6kg, 12.5kg Nationwide

The price of liquefied petroleum gas (LPG), also referred to as cooking gas, has been on the rise across Nigeria, significantly impacting households already facing a high cost of living.

Recent market analysis conducted by Legit.ng indicates that both depot and retail prices have experienced notable increases. Some plants have raised their rates from N1,050 per kilogram to as much as N1,200 per kilogram, marking a N150 increase in a relatively short timeframe.

This surge in cooking gas prices is putting additional financial strain on Nigerians as dealers adjust their rates to reflect current market conditions.

A manager at Gasland in the Iju-Ishaga area of Lagos, named Olalekan, noted that importers have recently announced new depot rates that show an increase of up to 10%.

“We are seeing as much as a 10% increase in LPG prices, and the dealers are passing the cost to consumers,” he said.

The hike, he noted, is a necessary adjustment for businesses to remain viable amid market volatility.

On the streets, consumers report even steeper prices.

Many Nigerians now pay up to N1,400 per kilogram, up from around N1,100 previously. In some locations, retail rates have climbed as high as N1,500 per kg, according to widespread reports from dealers and buyers.

Depot operators adjust rates

Data from petroleum pricing platforms show varied but consistently upward adjustments at major depots.

Recent figures indicate that Stockgap sells at N1,055 per kg, Nipco Lagos at N1,037.5, Ardova at N1,032.5, and Rainoil at N1,030.

Households bear the brunt of rising energy costs

The latest LPG price surge exacerbates economic hardship for ordinary Nigerians.

Cooking gas remains a primary fuel for millions of households, and repeated increases directly inflate living expenses at a time when food, transportation, and other essentials are already costly.

Dealers lament slower sales as affordability dwindles, while consumers express frustration over the shrinking purchasing power.

Industry observers hope the federal government will intervene with measures to cushion the impact, such as targeted subsidies, increased local refining capacity, or alternative energy incentives.

However, with global factors largely outside domestic control, short-term relief may prove challenging.

Outlook and recommendations

As long as geopolitical uncertainties persist around key oil chokepoints like the Strait of Hormuz, Nigerian consumers should brace for continued fluctuations in cooking gas prices.

Experts advise households to explore energy-efficient cooking methods, consider bulk purchasing where feasible, or gradually shift toward alternatives like electric or biomass options where infrastructure allows. Nigerians in panic mode as cooking gas prices skyrocket nationwide.