The price of liquefied petroleum gas (LPG), commonly referred to as cooking gas, has shown signs of stability in Nigeria since July 2026, even as global crude oil prices experience volatility. Reports indicate that cooking gas prices surged significantly in May and June, reaching as high as N2,000 per kilogram in major cities such as Abuja and Lagos.

However, a notable increase in LPG imports since June, coupled with a price reduction from Dangote Refinery, has contributed to a decrease in cooking gas prices over the past two months. A recent market survey revealed that major suppliers, including Dangote Refinery and other depot owners like NavGas, 11 PLC (formerly Mobil), and Ranoil, are currently offering LPG at prices ranging from N945 to N960 per kilogram.

In contrast, A.Y.M. Shafa depot has raised its LPG price by N15, bringing it to N1,055 per kilogram. Retailers in Abuja and surrounding areas, including Ranoil, Nigerian Independent Petroleum, and the Nigerian National Petroleum Company Limited, are selling cooking gas at prices between N1,250 and N1,450 per kilogram. Micro-retailers are dispensing LPG at a higher rate of N1,500 per kilogram.

Just a few days prior, Dangote Refinery and various marketers had announced a reduction in LPG prices, which has provided some relief to consumers. Despite this stabilization in cooking gas pricing, the recent surge in crude oil prices, which have climbed to approximately $94 per barrel, has raised concerns about potential future price hikes in the petroleum market.

As the situation develops, consumers and industry stakeholders remain watchful of the impacts of crude oil price fluctuations on the cost of cooking gas in Nigeria. The interplay between local supply dynamics and global oil prices will be crucial in determining future trends in LPG pricing.