Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends

The price of liquefied natural gas (LPG), also known as cooking gas, has decreased, offering slight relief to Nigerians amid the rising cost of living.

New data shows that several depot owners, including Dangote Petroleum Refinery, have also adjusted their prices.

LPG prices in Nigeria have climbed sharply at key depots, with most now selling to retailers at over N900 per kilogram, except Dangote Refinery, which sells to marketers at N855 as of Tuesday, May 20.

Data published by Petroleumprice.ng showed that Dangote Refinery recorded the lowest price, selling LPG at N855 per kilogram, a drop of N10 or 1.16% compared to the previous day.

Other major depots also posted slight declines. Ardova sold at N915/kg, down by N10 or 1.08%, while both NIPCO Lagos and 11 Plc sold at N920/kg, each reflecting a decrease of N5 or 0.54%.

Rainoil Lagos and A.A. Rano held prices steady at N920/kg, with no recorded changes.

Despite the minor reductions at the depots, retail prices remain high, with consumers across the country paying N1,200 per kg to refill their cylinders from N950 as at the same period last year.

During a market survey, some dealers who spoke to Legit.ng confirmed prices are still high.

Kunle Ajami, a manager of a cooking gas plant in Lagos, said that the price adjustment started a month ago.

"Although depots prices have reduced, but when you consider all the other costs, there's not much difference. That's why we still sell at our current prices. Infact we don't sell 1kg to our customers"

Ajami revealed the current price list of cooking gas as follows:

Earlier, Legit.ng reported that the Nigerian government has halted the export of locally produced cooking gas.

Ekperikpo Ekpo, the Minister of State for Petroleum Resources (Gas), disclosed the directive.

The order seeks to prioritise domestic supply over exports to alleviate the burden of rising costs on Nigerian consumers.

His spokesman, Louis Ibah, shared the minister's statement after a high-level meeting in Abuja between the government and stakeholders in the cooking gas value chain.

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Source: Legit.ng