After weeks of soaring costs and scarcity, Nigerians are finally breathing a sigh of relief as the cooking gas price drop continues across major cities, bringing temporary stability to the market.
Retailers confirmed over the weekend that the average price of Liquefied Petroleum Gas (LPG) has fallen to between ₦1,300 and ₦1,500 per kilogram, down from the previous high of about ₦2,000.
The development follows an increase in product supply and a gradual return to normalcy after the market disruption caused by the recent industrial dispute involving the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Dangote Refinery.
Cooking Gas Price Drop Reflects Improved Supply
Confirming the new trend, the Chairman of the Liquefied Petroleum Gas Retailers Association of Nigeria (LPGAR), Ayobami Olarinoye, said the market is slowly stabilizing due to an improved supply of LPG across distribution channels.
“The product is now circulating better. We are seeing a gradual increase in supply, and the cooking gas price drop shows that the market is responding positively.
Although prices have not returned to their former levels, this is a significant improvement,” Olarinoye said.
He noted that prices currently range between ₦1,300 and ₦1,600 per kilogram, depending on location, and expressed optimism that the market could stabilize further within the week if the supply trend continues.
“There is still some volatility, but the situation has improved considerably compared to a few weeks ago. If supply is sustained, we expect the market to find its balance soon,” he added.
Retailers across Ibadan, Port Harcourt, and Lagos confirmed to ireport247news.com that supply from depots and major distributors has become more consistent, even though fluctuations remain in certain regions due to transportation and logistics costs.
Consumers Welcome the Cooking Gas Price Drop
For many Nigerian households already grappling with inflation, the cooking gas price drop brings a glimmer of hope.
Several consumers who spoke to our correspondent said prices at their neighborhood gas shops had reduced noticeably, though not yet to pre-crisis levels.
“I bought gas at ₦1,400 per kg this weekend after paying ₦2,000 three weeks ago. It’s still high but much better than before,” said Mrs Bukola Adedokun, an Ibadan resident.
Others, however, expressed that they would feel true relief only when prices return to ₦900 per kilogram or below — the average level seen before the price spike earlier in the year.
Background: How the Price Surge Began
The recent volatility in cooking gas prices began after a two-week strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) disrupted supplies from the Dangote Refinery and other depots.
Despite the suspension of the strike, retail prices remained stubbornly high, sparking frustration among consumers and traders.
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, intervened last week, warning marketers against hoarding or price manipulation.
The ministry vowed to take action against those found exploiting consumers through artificial scarcity.
Retailers, on their part, blamed the sustained high prices on the widening gap between refinery prices and the rates offered by off-takers — major distributors who buy LPG in bulk before reselling to retailers.
Dangote Refinery Clarifies LPG Pricing Structure
Sources within the Dangote Refinery explained that the refinery sells LPG at ₦715,000 per metric tonne (about ₦715 per kilogram) to licensed off-takers, insisting it does not control downstream pricing.
“We sell at ₦715/kg from the refinery. There are 1,000 kilograms in one metric tonne. What happens afterward in the retail market is beyond our control.
Under the Petroleum Industry Act and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) framework, only the government has the power to fix prices,” a senior refinery source stated.
In response, retailers accused middlemen of excessive markups, with many distributors reselling at between ₦18.4 million and ₦18.5 million per 20,000 metric tonnes, despite the refinery’s lower base price.
This gap, they argued, explains the slow adjustment in retail prices, despite improved supply from local producers and importers.
Tension Among Marketers Over Price Blame
Earlier this month, the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) attributed the price surge to retail-level speculation.
Its National President, Oladapo Olatunbosun, said on Channels Television that retailers were responsible for inflating prices.
However, LPG retailers pushed back, describing the allegation as “unfair and misleading.” Olarinoye maintained that retailers remain the final link in a value chain where pricing decisions are largely influenced by upstream players and logistics costs.
“Retailers are being unfairly blamed. The reality is that most of the price increments happen before the product reaches us.
The focus should be on regulating the supply chain and ensuring fair pricing for consumers,” he said.
The Road Ahead for Nigeria’s LPG Market
Experts believe that sustaining the cooking gas price drop will depend on consistent supply, transparent pricing from refineries, and the government’s commitment to regulating unfair practices in the value chain.
Nigeria’s drive toward cleaner domestic energy sources depends largely on the affordability and accessibility of LPG.
As the government continues to encourage LPG adoption under its Decade of Gas initiative, stabilizing prices remains critical for ensuring consumer confidence and expanding market penetration.
For now, Nigerians are cautiously optimistic that the recent downward trend will continue — and that the era of paying ₦2,000 per kilogram for cooking gas may soon become a thing of the past.
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