Dangote Refinery Raises Cooking Gas Prices Nationwide, Retailers Adjust Rates

Dangote Refinery has increased cooking gas prices to N820 per kilogram, prompting retailers across major cities like Lagos, Abuja, and Kano to adjust their rates. This move has garnered attention in the downstream petroleum sector, with the average liquefied petroleum gas (LPG) price rising from N800 to N820 per kilogram.

Despite market pressures, experts suggest that the current market fundamentals should ideally lower prices. The rise in LPG prices goes against broader market expectations, as global oil trends and the stable naira should ease price pressures.

The adjustment in prices is attributed to global crude movements and increased household energy expenses, as highlighted by the Nigerian Bureau of Statistics.