Liquefied petroleum gas (LPG) prices have increased by as much as ₦75 per kilogram across five suppliers between October 20 and October 22, as international crude oil prices climbed amid renewed concerns over global energy supply disruptions.
Price data reviewed by Petroleumprice.ng showed that Navgas recorded the largest increase, raising its LPG price from ₦1,175 per kilogram on October 20 to ₦1,250 on October 22, a rise of ₦75 or 6.38 per cent.
11Plc and Nipco increased their prices from ₦1,180 to ₦1,225 per kilogram, representing an increase of ₦45, or 3.81 per cent. Techno Oil and Rainoil raised their prices from ₦1,170 to ₦1,200 per kilogram, an increase of ₦30, or 2.56 per cent.
The adjustments lifted the prices across the five suppliers to between ₦1,200 and ₦1,250 per kilogram on Thursday, compared with ₦1,170 to ₦1,180 two days earlier.
At 12:55 p.m. West Africa Time (WAT) on October 22, Brent crude was trading at $111.90 per barrel, up $3.03 or 2.78 per cent, while West Texas Intermediate (WTI) stood at $99.19 per barrel, up $2.04 or 2.10 per cent.
The increase in international oil prices comes amid continuing geopolitical tensions and concerns over energy shipments, particularly in the Middle East.
The latest figures show simultaneous increases in the listed LPG prices and international crude benchmarks, with Navgas recording the steepest adjustment among the five suppliers reviewed.