In a welcome relief to households across Nigeria, the price of Liquefied Petroleum Gas (LPG), widely known as cooking gas, has sustained a downward trend over the past three weeks. A recent market survey reveals significant price drops across Abuja and neighboring areas, offering much-needed economic respite to consumers.
Drop in LPG Depot and Filling Station Prices
According to market assessments, the price for a kilogram of cooking gas has fallen to N1,300, down from its previous average of N1,450, depending on the specific location within the Federal Capital Territory. Major retail outlets have adjusted their rates accordingly:
- Shafa: Dispensing at N1,300 per kg (down from N1,450–N1,500).
- Ranoil: Dispensing at N1,350 per kg.
- AP Ardova: Dispensing at N1,400 per kg.
Additionally, depot operators have reduced their rates, with wholesale prices now hovering between N997 and N1,030 per kilogram, down from a previous high of N1,100.
Retailers Pass Savings to Consumers
The price reduction has successfully trickled down to suburban retail outlets. In major residential hubs within Abuja, including Dawaki, Kubwa, Gwarimpa, and Lugbe, retailers have adjusted their prices to approximately N1,500 per kilogram, marking a notable decline from the previous rate of N1,700 per kilogram.
Surging Imports Drive Cost Reduction
Industry experts attribute this downward price trajectory to a substantial increase in local LPG supply. Data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) indicates that cooking gas imports experienced a massive 1,400 percent surge, reaching 1.5 kilotonnes per day. This influx of supply has effectively eased market pressures, driving down costs for end consumers nationwide.