The cost of refilling a standard 12.5kg cylinder of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has surged by 34.6 percent within one week, hitting ₦17,500 from ₦12,750. This sharp rise is sparking fresh concerns among households already grappling with rising living costs.
Investigations across Lagos, Abuja and other major cities revealed that retail prices now fluctuate between ₦1,350 and ₦1,500 per kilogram, depending on the outlet and location.
Supply Disruptions Push Prices Higher
Speaking with newsmen, the National President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), Mr. Olatunbosun Oladapo, attributed the sudden spike to the industrial action embarked upon by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
He stated that the strike resulted in gas plant shutdowns, particularly in the South-West, disrupting supply chains and consequently driving up costs.
“Gas is essentially a demand and supply business. When supply is restricted, the pressure naturally shifts to the consumers. PENGASSAN’s strike paralysed operations, and that ripple effect pushed prices beyond the reach of many households,” Oladapo explained.
Dangote’s Supply Delay Worsens Market Strain
This situation has left marketers scrambling to source from other competitors, often at higher rates. “No marketer wants to leave his plant empty. Out of necessity, they are forced to buy at inflated prices, which ultimately passes down to consumers,” he noted.
Hope for Relief in Coming Weeks
Despite the current squeeze, industry players stay hopeful that prices will ease once PENGASSAN fully resolves its industrial action and the Dangote Refinery resumes trucking products to marketers.
“We appeal to Dangote to truck out product to more marketers as this will enhance supply. Once that happens, we expect a price drop,” Oladapo added.
For now, Nigerians grapple with yet another surge in the cost of a basic household necessity — a development that exposes the country’s fragile energy supply chain.