Retail prices of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, have begun to decline across several parts of Nigeria following improved product availability and lower depot prices, offering some relief to households burdened by the rising cost of living.
Market checks by gas marketers indicate that the reduction in prices has spread across major cities, although the rate of decline varies due to transportation expenses, proximity to supply depots and retailer pricing.
Current retail prices show that cooking gas sells between N1,100 and N1,350 per kilogramme in Lagos, Ibadan and Abeokuta. In Benin City, Port Harcourt and Warri, prices range from N1,150 to N1,400 per kilogramme, while consumers in Onitsha and Enugu pay between N1,200 and N1,450 per kilogramme.
Residents of Abuja currently purchase cooking gas at N1,250 to N1,500 per kilogramme, while northern cities such as Kano and Kaduna record prices ranging from N1,300 to N1,550 per kilogramme. Maiduguri and some North-East communities continue to experience the highest prices, with LPG selling between N1,350 and N1,650 per kilogramme due to higher transportation costs.
The National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Edu Inyang, attributed the price decline to improved domestic production, increased imports and lower depot prices.
He explained that greater product availability, increased competition among marketers and the end of panic buying have also contributed to the easing of prices, although logistics costs continue to create price differences across locations.
According to him, the national retail price now ranges between N1,100 and N1,650 per kilogramme, though some neighbourhood retailers still charge above this range because of distribution expenses.
The latest development marks a turnaround from the sharp price increases recorded from May, when supply shortages and rising depot costs pushed cooking gas prices significantly higher nationwide.
Based on prevailing market prices, refilling a 5kg cylinder now costs between N5,500 and N8,250, while a 6kg cylinder attracts between N6,600 and N9,900. Consumers refilling a 12.5kg cylinder are expected to pay between N13,750 and N20,625, depending on their location.
Despite the improvement, marketers warned that prices have yet to stabilise across the country, noting that communities located far from major LPG depots may continue to pay more because of transportation and logistics costs.
Industry operators expressed optimism that sustained local production and steady imports would further moderate prices in the coming weeks, provided there are no disruptions to supply or distribution.
Also commenting, the National Chairman of the Liquefied Petroleum Gas Retailers Branch of the Nigeria Union of Petroleum and Natural Gas Workers, Ayobami Olarinoye, said supply conditions were gradually returning to normal.
He noted that retailers currently purchase cooking gas from plant operators at between N1,300 and N1,500 per kilogramme, depending on location, and sell to consumers at prices ranging from N1,600 to N1,800 per kilogramme after factoring in logistics and operating costs.
Cooking gas prices had surged from an average of N1,000 per kilogramme at the beginning of the year to as high as N2,400 per kilogramme between May and June, prompting marketers to intensify import plans to boost supply.
The Federal Government subsequently approved additional LPG import licences after industry operators raised concerns over the inability of local producers to satisfy domestic demand.
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, also cautioned operators against hoarding products and engaging in profiteering as part of efforts to restore stability to the market.