The price of cooking gas is expected to ease further across Nigeria following a fresh reduction in Liquefied Petroleum Gas (LPG) prices by the Dangote Refinery, depot owners, and marketers.
The Dangote Refinery reduced its LPG gantry price by ₦30 to ₦950 per kilogram, triggering similar cuts across the wholesale market.
11PLC, formerly Mobil, NAVGAS, Ranoil, and PPMC, subsequently reduced their ex-depot prices to between ₦955 and ₦960 per kilogram, representing cuts of ₦15 to ₦30 per kilogram.
However, the reduction has yet to fully reflect at the retail level. Cooking gas currently sells for about ₦1,300 to ₦1,450 per kilogram at some Ranoil, NNPC, and Shafa outlets, while several other retailers in Abuja and surrounding areas still sell at about ₦1,500 per kilogram.
The latest price cuts come after a sharp increase in LPG imports earlier in the year. NMDPRA data showed that Nigeria’s LPG imports rose by 1,400 percent in June, from 0.1 kilotonnes per day in May to 1.5 kilotonnes per day.
The increase helped push total LPG receipts up by 24 per cent to 5.1 kilotonnes per day, although domestic supply fell by 10 percent to 3.6 kilotonnes per day.
With wholesale prices now falling, consumers could see further reductions if the lower depot prices are passed through the retail chain.
