Nigerian households are facing higher energy costs following a fresh increase in the price of liquefied petroleum gas (LPG), commonly used for cooking, triggered by rising global oil prices linked to the escalating US–Iran conflict.
Across major depots, the average retail price of cooking gas has climbed by about N100 per kilogram, deepening pressure on consumers already grappling with rising food and transport costs.
Depot prices jump nationwide
Checks across key distributors show notable upward adjustments. Nipco Plc is now dispensing LPG at about N950 per kilogram, while Navgas Limited sells at roughly N900 per kilogram. Techno Oil Limited has also raised its depot price to around N885 per kilogram.
These levels mark a clear jump from the previous market average of about N800 per kilogram, translating into higher refill costs for households and small businesses that rely heavily on gas.
Global oil shock hits local kitchens
The price hike follows disruptions in global crude supply after military tensions in the Middle East unsettled energy markets.
Nigeria’s Bonny Light crude reportedly surged to about $80 per barrel, while Brent and other international benchmarks also recorded sharp gains.
Because Nigeria prices LPG largely on international parity and still depends significantly on imports, any spike in global oil prices quickly filters into domestic gas costs.
Consumers brace for more increases
Industry players warn that further instability could push prices even higher. A Lagos-based retailer said import costs have risen sharply, leaving dealers with little choice but to adjust prices.
Analysts note that without stronger local refining capacity and supply buffers, Nigerian consumers will remain exposed to external shocks, with cooking gas prices likely to stay volatile in the near term.
