Retail prices of cooking gas, otherwise known as Liquefied Petroleum Gas (LPG), have continued to decline across Nigeria, offering relief to consumers as stronger domestic supply and reduced depot prices drive the downward trend.
A market survey found that numerous gas refilling outlets have lowered their selling prices. Retailers attributed the reduction to improved product availability, alongside government measures that have helped stabilize supply within the market.
The easing of retail prices follows recent adjustments by major LPG depots, which have cut their ex depot rates and, in turn, reduced the cost of purchasing the product for marketers.
Data obtained from Petroleumprice.ng on Friday, July 17, indicated that depot prices for LPG recorded further declines. According to the figures, 11 Plc sold at N1,025 per kilogram, Ardova at N1,020, Navgas at N1,005, NIPCO at N1,025, PPMC at N1,005, and Rain Oil at N1,030 per kilogram.
The reduction in wholesale prices has given retailers room to lower their pump prices, with many dealers expressing confidence that if supply remains steady, retail prices could soon approach the N1,000 per kilogram benchmark.
New cooking gas prices
Paul Okechukwu, the owner of a cooking gas refilling plant in Amechi, Enugu, said the cost of LPG has dropped considerably compared with what consumers paid in June. NAN reports.
He explained that cooking gas, which previously sold for between N1,700 and N1,900 per kilogram in June, is now being retailed for between N1,400 and N1,500 per kilogram, depending on the specific location within the Enugu metropolis.
In Lagos, cooking gas dealer Saheed Ademola disclosed that he currently sells the product at N1,500 per kilogram.
He said: “Last week, I reduced my price to N1,500 after my supplier sold to me at a lower rate. Prices will continue to fall.”
Another dealer, Obiora Ani, who runs a refilling plant in the Uwani area of Enugu, said the price reduction is not limited to one location but reflects a broader nationwide pattern driven by increased product supply.
He said: “When you go to other places in the country, the price of cooking gas has reduced as well, not only in Enugu.”
Ani further noted that the decline in prices has encouraged more households to return to refilling their gas cylinders, leading to increased customer patronage.
