Depot owners in Nigeria have increased cooking gas prices by about N100 per kilogram following a surge in global crude oil prices triggered by Middle East tensions.
Depot owners across Nigeria have raised the price of liquefied petroleum gas (LPG), commonly known as cooking gas, by an average of N100 per kilogram as geopolitical tensions in the Middle East continue to disrupt global energy markets. Nipco Plc is now selling LPG at N950 per kilogram, while Navgas Limited has adjusted its price to N900 per kilogram. Techno Oil Limited is dispensing its product at N885 per kilogram, marking a sharp rise from the previous market average of around N800 per kilogram.
The increase follows coordinated US–Israel airstrikes on Iran, which disrupted crude oil flows from the Persian Gulf to the global market. Nigeria’s Bonny Light crude, the country’s benchmark export grade, surged to $80 per barrel from $70, its highest level since July 2025, according to market data tracked by BusinessDay.
Global oil benchmarks also recorded significant gains. Brent crude climbed to $79.08 per barrel from $72.87, while Murban crude rose to $81.05 from $74.24. West Texas Intermediate advanced to $72.24 per barrel from $62, marking one of its sharpest single-session rallies in recent memory, further intensifying cost pressures in Nigeria’s domestic energy market.
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