Escalating conflict between the United States and Iran is beginning to bite Nigerian consumers, as depot owners raise the price of liquefied petroleum gas (LPG), commonly known as cooking gas, by an average of N100 per kilogram.
Major distributors have adjusted prices upward. NIPCO Plc is now selling LPG at N950 per kilogram, while Navgas Limited and Techno Oil Limited have priced their products at N900 and N885 per kilogram, respectively. The increases mark a sharp rise from the previous market average of about N800 per kilogram.
The spike follows coordinated US–Israel airstrikes on Iran and heightened tensions across the Persian Gulf, which have disrupted crude flows and rattled global energy markets.
Nigeria’s Bonny Light crude has climbed to $80 per barrel from $70, tracking gains in global benchmarks. Brent crude rose above $79 per barrel, while West Texas Intermediate posted one of its strongest recent rallies. The surge in international oil prices has triggered a direct pass-through to Nigeria’s domestic fuel market.
Petrol prices have also edged higher in several cities, as marketers adjust pump rates to reflect rising landing costs.
Nigeria remains heavily dependent on imported refined petroleum products and LPG, leaving households exposed to global price shocks. Because cooking gas and petrol are priced in line with international parity, volatility in the Middle East quickly translates to higher energy costs locally.
For many families, the impact is immediate, higher transport fares, rising food prices, and more expensive cooking fuel, underscoring how geopolitical tensions abroad continue to strain household budgets at home.
