Dangote marketers have reduced the selling price of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, to ₦985 per kilogram, placing them below prevailing depot prices and intensifying price competition across Nigeria's domestic LPG market.
A market survey by Petroleumprice.ng on Monday showed that the new price is ₦45 per kilogram below the average depot price of ₦1,030/kg quoted by major marketers and ₦65/kg lower than the highest market price of ₦1,050/kg.
Current depot prices show NIPCO, 11 Plc, Ardova Plc and Techno Oil selling LPG at ₦1,030/kg, while Navgas and Rainoil are priced at ₦1,050/kg.
The latest adjustment makes Dangote marketers the most competitively priced suppliers in the market and is expected to increase pressure on other depot owners to review their prices downward in order to remain competitive.
Market participants say if competing depots begin reducing prices over the coming days, the lower acquisition cost is likely to cascade through the distribution chain, paving the way for fresh reductions in retail cooking gas prices.
Should the downward trend continue, retail LPG prices could return to around ₦1,000 per kilogram, offering relief to households and commercial consumers after months of elevated cooking gas prices.
The latest price review extends the growing wave of competition across Nigeria's deregulated downstream energy market, where suppliers have increasingly adjusted prices to strengthen market share and stimulate product off-take.