Petrol Price Drop Leads to Significant Reduction in Cooking Gas Costs Across Nigeria
In a welcome development for Nigerian households, the recent decline in petrol prices has contributed to a significant reduction in cooking gas costs across the country.
According to the National Bureau of Statistics (NBS), the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, dropped by 14.23% in July 2024, falling from ₦6,966.03 in June to ₦5,974.55.……CONTINUE READING
This downward trend continued into April 2025, with reports indicating that the price of cooking gas has decreased further. In Lagos State, the cost of refilling a 12.5kg cylinder fell to approximately ₦13,750, down from ₦17,283.58 in November 2024. Similarly, in the Federal Capital Territory, Abuja, the price reduced to ₦16,250 from ₦17,500.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) attributes this decline to the recent drop in petrol prices, which have fallen to between ₦910 and ₦950 per litre from previous highs of ₦940 and ₦970.
This reduction in fuel prices has eased transportation and distribution costs for LPG, thereby lowering the overall cost for consumers.
Despite these positive developments, challenges remain. Dealers have noted that while the removal of VAT and import duties has facilitated easier importation of LPG, foreign exchange volatility continues to pose a significant hurdle. Nevertheless, the current trend offers a measure of relief to many Nigerians grappling with the high cost of living.
