Nigeria cooking gas price hike follows Middle East tensions, with local LPG prices rising sharply as global supply and shipping are disrupted

The price of cooking gas in Nigeria has surged sharply following escalating tensions in the Middle East, which have disrupted global oil and gas supply chains.

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The conflict involving the United States, Israel and Iran has affected energy production and major shipping routes, causing international oil and gas prices to spike and impacting local consumers.

Following attacks by Iran on ships and energy facilities, Brent crude oil rose by $3.66, or 4.7%, to $81.40 per barrel, reaching its highest level since January 2025.

European gas prices jumped by as much as 40%, while Iraq warned it may cut production by over three million barrels per day if tankers cannot move freely.

Despite Nigeria’s large natural gas reserves, the country continues to import a significant portion of its liquefied petroleum gas. In recent years, between 20% and 47% of LPG consumed in Nigeria has been imported.

Depot owners have responded to the global price surge by raising local gas prices by roughly ₦100 per kilogram. Nipco Plc now sells cooking gas at ₦950 per kilogram, Navgas Limited at ₦900, and Techno Oil Limited at ₦885—up sharply from the previous average of around ₦800 per kilogram.

Crude oil prices in Nigeria and abroad have climbed accordingly. Bonny Light rose to $80 per barrel from $70, Brent crude reached $84 per barrel, Murban crude hit $81.05, and West Texas Intermediate climbed to $72.24 per barrel.

The crisis has severely affected shipping through the Strait of Hormuz, a crucial passage for roughly 20% of the world’s oil and LNG supply. Tanker traffic has dropped sharply, with many vessels stranded near ports such as Fujairah in the United Arab Emirates.

Qatar has also shut down some liquefied natural gas facilities, affecting about 20% of global LNG exports, while shipping costs have soared.

According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Nigeria supplied 52,900 metric tonnes of cooking gas to the domestic market in 2025, with 87% sourced locally and 13% imported.

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The recent surge in global energy prices demonstrates how international geopolitical developments continue to influence domestic energy markets, with consumers bearing the immediate impact of disruptions in supply and logistics.