New Cooking Gas Prices Drop as Dangote Refinery Leads

New cooking gas prices have emerged as depot operators in Nigeria adjust their rates to compete with Dangote Refinery's reduced Liquefied Petroleum Gas (LPG) price of N935 per kilogram. This price cut by the refinery, which has a capacity of 700,000 barrels per day, has influenced the wider LPG market, prompting several dealers to lower their depot prices.

Currently, the average depot price stands at approximately N940 per kilogram, just N5 above Dangote Refinery's price. Dealers such as NAVGAS are selling LPG at about N950 per kilogram, while Ardova (AP) and PPMC offer it at around N940 per kilogram.

However, AYM Shafa remains higher at N1,055 per kilogram. The competition among major LPG suppliers may pressure dealers to further review their prices.

This development is significant for households and businesses reliant on cooking gas, especially amid rising living costs. The price adjustments come against a backdrop of increasing global crude oil prices, which have surpassed $90 per barrel.