Price Shock: Cooking Gas Per Kg In Nigeria Hits Alarming Levels

The cost of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, remains a significant concern for Nigerian households as prices continue to fluctuate due to various factors.....KINDLY READ THE FULL STORY HERE▶

Key Influences on LPG Prices in Nigeria

• Global Market Impact: Nigeria’s heavy reliance on imported LPG makes local prices highly sensitive to fluctuations in international market rates.
• Exchange Rate Volatility: The depreciation of the naira against the dollar has significantly driven up import costs, directly affecting cooking gas prices.
• Transportation Costs: Rising fuel costs have increased the expenses of distributing LPG from depots to consumers, especially in areas far from coastal supply points.
• Demand-Supply Dynamics: Following the festive season, reduced demand has led to slight price decreases in some regions. However, areas with higher demand or supply chain issues continue to experience elevated prices.
• Domestic Production Challenges: Despite Nigeria’s abundant gas reserves, inadequate refining and processing capacity forces reliance on imports, exposing the market to global price fluctuations.

Current LPG Prices Per Kilogram

• 1kg Cooking Gas: ₦1,300
• 3kg Cooking Gas: ₦3,900
• 5kg Cooking Gas: ₦6,500
• 6kg Cooking Gas: ₦7,800
• 10kg Cooking Gas: ₦13,000
• 12.5kg Cooking Gas: ₦16,250