Cooking Gas Prices In Nigeria: Current Trends And Fluctuations

The price of Liquefied Petroleum Gas (LPG), also known as cooking gas, remains a key concern for households in Nigeria as it continues to fluctuate. These changes are largely influenced by various factors, with prices varying across different regions.

This week, slight differences in LPG prices have been observed, driven by factors such as transportation costs, exchange rate fluctuations, and local supply and demand. The domestic LPG market is highly sensitive to international trends and conditions, which significantly impact the final cost at the consumer level.

One of the major factors affecting the price of cooking gas is the international market. Since Nigeria imports a large portion of its LPG, global market trends play a crucial role in determining local prices. Any increase in the global price of LPG directly raises the cost of imports, affecting the retail price in Nigeria.

Additionally, the volatile exchange rate between the naira and the dollar has been a critical factor in the rising cost of LPG. As the naira weakens against the dollar, the cost of imported goods, including cooking gas, increases. This exchange rate fluctuation continues to put pressure on the retail prices for Nigerian consumers.

The cost of transportation also significantly affects the price of cooking gas. With rising fuel costs, transporting LPG from depots to consumers, especially those located far from coastal regions, has become more expensive. This has led to increased prices in remote areas.

After the festive season, there has been a slight decrease in demand for cooking gas, which has led to some price reductions in certain regions. However, areas with ongoing supply challenges or higher demand are still experiencing elevated prices.

Despite Nigeria’s vast natural gas reserves, local refining and processing challenges result in a dependence on imported LPG. This reliance on imports makes the market vulnerable to fluctuations in global prices, further influencing the retail price for consumers.

Below is the current price of cooking gas in Nigeria:

– 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

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