The price of liquefied petroleum gas (LPG), commonly known as cooking gas, has seen a notable decrease in Nigeria, with major suppliers Dangote Refinery and 11 Plc leading the way. This development is expected to provide much-needed relief for households and businesses that rely on cooking gas.
Currently, Dangote Refinery has set its LPG price at ₦950 per kilogram, reflecting a ₦10 reduction or 1.04% drop from its previous rate. This positions Dangote among the lowest-priced suppliers in the market, as confirmed by the latest data from PetroleumPriceNG and reported by Legit.ng.
In a similar move, 11 Plc has also lowered its LPG price to ₦980 per kilogram, marking a ₦20 decrease or 2% from its earlier pricing. This adjustment means that 11 Plc's price is now ₦30 higher than Dangote's, indicating a widening gap in pricing among major LPG suppliers.
However, not all suppliers have followed suit. Rainoil and PPMC have maintained their prices, with Rainoil's rate steady at ₦990 per kilogram and PPMC also holding at ₦980 per kilogram. This mixed response in the market highlights a competitive landscape, where some suppliers are reducing prices while others remain unchanged.
The fluctuations in depot prices are crucial as they often influence retail prices for consumers. As the market adjusts, it remains to be seen whether these reductions at the wholesale level will translate into lower costs for households at retail outlets. Typically, dealers consider various factors, including transportation and operating costs, before setting their final selling prices.
Overall, the recent price cuts from Dangote and 11 Plc could intensify competition among suppliers, potentially leading to further reductions in the coming weeks. For now, Dangote's ₦950 per kilogram rate stands as the most affordable option among the major depots, while Rainoil continues to offer the highest price at ₦990 per kilogram. This shift in the LPG market is a welcome change for many Nigerians as they seek to manage household expenses amid fluctuating economic conditions.
Sources
- Legit Original article
