Cooking Gas Prices Drop Nationwide Amid Improved Supply

Nigerians are beginning to enjoy some relief from the high cost of cooking gas as retail prices of Liquefied Petroleum Gas have started declining in several parts of the country following improved product availability and reduced depot prices.

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Findings by industry operators showed that although prices differ across locations due to transportation expenses and distribution costs, the downward trend has become noticeable in many major cities after weeks of sustained increases.

Current market prices indicate that cooking gas sells between N1,100 and N1,350 per kilogramme in Lagos, Ibadan and Abeokuta. Consumers in Benin City, Port Harcourt and Warri pay between N1,150 and N1,400 per kilogramme, while prices in Onitsha and Enugu range from N1,200 to N1,450. In Abuja, the product is sold for between N1,250 and N1,500 per kilogramme.

The National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Edu Inyang, said prices remain higher in the northern part of the country because of transportation challenges. 

According to him, residents of Kano and Kaduna pay between N1,300 and N1,550 per kilogramme, while consumers in Maiduguri and other North-East communities still pay as much as N1,650 per kilogramme.

Inyang attributed the price reduction to increased domestic production, improved import volumes, lower depot prices, stronger competition among marketers and the disappearance of panic buying, which had previously disrupted supplies. 

He added that the current national retail price ranges from N1,100 to N1,650 per kilogramme, although some retailers continue to charge higher rates due to logistics costs.

The latest development marks a reversal of the sharp increase recorded between May and June, when supply shortages pushed prices from an average of about N1,000 per kilogramme at the beginning of the year to as high as N2,400 per kilogramme in some locations.

Based on the prevailing 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 and the retailer.

Despite the improvement, marketers cautioned that prices have yet to stabilise nationwide, noting that communities located far from major LPG depots could continue to pay more because of transportation costs. 

They, however, expressed optimism that sustained supply from local producers and imports would further moderate prices if distribution remains uninterrupted.

The National Chairman of the Liquefied Petroleum Gas Retailers Branch of the Nigeria Union of Petroleum and Natural Gas Workers, Ayobami Olarinoye, also confirmed that supply had improved, saying neighbourhood retailers currently purchase cooking gas from plant operators at between N1,300 and N1,500 per kilogramme and sell to consumers for between N1,600 and N1,800 per kilogramme, depending on location and operating costs. 

He added that normalcy was gradually returning to the market following recent interventions to improve product availability.