Global events dictate necessity in Nigerian kitchens
Nigerian households are facing yet another hike in the cost of cooking gas, with prices rising by approximately 5% in recent days as major operators swiftly adjust to volatile global
Nigerian households are facing yet another hike in the cost of cooking gas, with prices rising by approximately 5% in recent days as major operators swiftly adjust to volatile global energy markets.
The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has spiked following a rebound in international crude oil prices. Nigerians brace up as Dangote and depot owners adjust cooking gas prices.
Market checks confirmed that depot owners and key players, including those linked to the Dangote Refinery, have released new ex-depot rates to reflect the shifting realities.
Last week, Brent crude, Nigeria's benchmark, climbed 3.92% to settle at $98.46 per barrel, according to OilPrice.com data. Murban crude surpassed $100 per barrel, while West Texas Intermediate (WTI) rose to $99.50.
This uptick was driven by renewed geopolitical tensions in the Middle East, particularly Israel's intensified strikes in Lebanon and Iran's continued blockade of the strategically vital Strait of Hormuz, despite a fragile US-Iran truce.
Experts warn Nigerian households that the persistent volatility in crude oil prices is directly fueling higher global energy costs, including LPG in Nigeria. “The renewed escalation has exacerbated supply concerns,” he explained.
Experts warn that as long as instability persists in the oil-rich region, Nigerian consumers will likely continue paying a premium for essential energy products.
Dangote depots release new cooking gas prices
According to data from PetroleumPriceNG, several major operators have already adjusted their rates. RainOil and Ardova raised their cooking gas prices to N1,050 per kg, while A.A. Rano moved to N940 per kg and PPMC to N950 per kg.
For many Nigerian families, the impact is immediate and painful. Cooking gas remains a primary fuel for millions of households, especially in urban areas where alternatives like firewood or charcoal are impractical or environmentally unsustainable.
According to investigations, the Dangote Refinery, often hailed as a game-changer for Nigeria's energy independence, has introduced some price discipline through its local production capacity. However, its output and pricing remain sensitive to global crude benchmarks and feedstock availability.
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Depot operators, acting as critical middlemen, move quickly to pass on cost changes to retailers and ultimately consumers. Industry observers note that while domestic refining helps reduce reliance on imports, external shocks, such as those emanating from the Middle East, continue to transmit rapidly through the supply chain.
The Strait of Hormuz, through which a significant portion of global oil and gas transits, remains a flashpoint that can swing prices with little warning. As tensions simmer, consumers are advised to monitor local depot and retail prices closely, as further adjustments cannot be ruled out.
Energy policy stakeholders continue to call for measures that would enhance strategic reserves, promote alternative energy sources, and strengthen local production resilience to cushion against such external volatilities.
For now, the message is clear: global events far from home are once again dictating the cost of a basic necessity in Nigerian kitchens.
