New cooking gas prices have emerged across Nigeria as depot operators adjust their rates to compete more closely with Dangote Petroleum Refinery. The latest price movement follows Dangote Refinery’s decision to reduce its Liquefied Petroleum Gas (LPG), popularly known as cooking gas, price to N935 per kilogram.
Average Depot Price Nears Dangote’s Rate
Data from PetroleumpriceNG showed that the average depot price of cooking gas currently stands at about N940 per kilogram, just N5 above Dangote Refinery’s latest price. The narrowing price gap could provide some relief for consumers who have faced elevated cooking gas costs amid broader increases in household expenses.
Among the dealers listed, NAVGAS sells LPG at about N950 per kilogram, while Ardova (AP) and PPMC are offering the product at approximately N940 per kilogram. However, prices remain significantly higher at some depots. AYM Shafa was listed at N1,055 per kilogram, making it the only dealer in the data with a price above the N1,000 mark.
Price Competition Could Benefit Consumers
The growing competition among major LPG suppliers could place additional pressure on dealers to review their prices, particularly as Dangote Refinery continues to expand its presence in Nigeria’s downstream petroleum market. For households and businesses that depend heavily on cooking gas, lower depot prices could eventually translate into lower retail prices, depending on transportation costs, distribution margins and local market conditions.
The development comes at a time when Nigerians continue to grapple with high living costs, making any reduction in the price of essential household energy products significant.
Crude Oil Prices Remain a Key Factor
The LPG price adjustment is also unfolding against a challenging global energy backdrop. Crude oil prices have climbed above $90 per barrel, according to Oilprice.com, potentially increasing pressure across the energy supply chain. Despite this, the reduction in Dangote Refinery’s LPG price and the response from competing depots suggest that increased domestic supply and competition could play a growing role in shaping cooking gas prices.
For consumers, the latest adjustments offer cautious optimism that stronger competition among suppliers could help keep LPG prices from rising further.
Dealers Release New Cooking Gas Prices
Legit.ng previously reported that the price of liquefied petroleum gas (LPG), popularly known as cooking gas, has recorded fresh reductions at some major Nigerian depots, with Dangote Refinery and 11 Plc leading the latest downward movement. The latest PetroleumPriceNG data shows that Dangote is currently selling LPG at ₦950 per kilogramme, representing a ₦10 reduction, or 1.04 per cent, from its previous rate.
The development places Dangote among the lowest-priced major depots captured in the latest market update and could provide some relief for households and businesses that depend on cooking gas.
