Cooking gas depot prices dropped by up to N7 per kilogram as major LPG marketers adjusted their wholesale rates PPMC recorded the steepest cut, lowering its price to N1,010/kg, while Matrix Warri was the only marketer to raise its rate Industry observers said sustained depot price reductions could push retail refill costs lower for Nigerian households Find it fast with our new search feature at Legit.ng! Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends. Liquefied Petroleum Gas (LPG) marketers have slashed depot prices, offering distributors lower wholesale rates and raising expectations that cooking gas refill costs could ease for Nigerian consumers in the weeks ahead. Fresh market data on Thursday, July 16, showed that PPMC recorded the sharpest reduction, cutting its depot price by N7 per kilogram to N1,010/kg, a 0.69% decline from the previous rate of N1,017/kg. Cooking gas dealers get relief as wholesale LPG prices decline at major depots Photo: Freepick Source: Getty Images Rainoil Lagos followed with a N2 reduction, bringing its depot price down to N1,030/kg. NIPCO Lagos held its rate steady at N1,025/kg, data from petroluemprice.ng show. READ ALSO Petrol price set to rise as ex-depot cost hits N1,200 after Dangote’s dollar sales policy From breaking news to viral moments. Follow Legit.ng on Instagram. The only marketer to move in the opposite direction was Matrix Warri, which added N2 to its price, bringing it to N1,100/kg. The new cooking gas depot prices are: PPMC: N1,010/kg (down N7 or 0.69%) NIPCO Lagos: N1,025/kg (unchanged) Rainoil Lagos: N1,030/kg (down N2 or 0.19%) Matrix Warri: N1,100/kg (up N2) Industry sources attributed the downward movement to greater competition among suppliers and improved product availability at the wholesale level. What the price cuts mean for consumers Depot prices reflect what distributors pay before transportation, storage, and retailer margins are factored in, meaning the reductions do not immediately pass through to the consumer at the point of refill. Industry observers note, however, that consistent easing at the wholesale level could incentivise retailers to lower their charges, particularly in urban markets where supplier competition is more pronounced. Final retail prices will continue to vary depending on logistics costs, operating expenses, and the availability of supply across different regions. READ ALSO Dangote Refinery breaks silence on petrol sales suspension as fuel prices rise above N1,200/Litre LPG prices change again as marketers release updated cooking gas rates. Photo:Bloomberg Source: Getty Images Market analysts expect LPG pricing to remain exposed to fluctuations in international energy markets, foreign exchange movements, and domestic supply conditions. Should wholesale rates continue to soften, more Nigerian households could see relief on their cooking gas bills in the near term. 10 most expensive states to buy cooking gas Earlier, Legt.ng reported that the National Bureau of Statistics (NBS) reported that the average retail price for refilling cooking gas rose by 13.73% on a month-on-month basis, increasing from N7,655.73 in March 2026 to N8,706.93 in April 2026. The report also showed that the average retail price for refilling a 12.5kg cylinder of LPG rose by 13.89% month-on-month, increasing from N19,652.83 in March 2026 to N22,382.20 in April 2026. Lagos recorded the highest average price for refilling a 5kg cylinder at N9,745.10, followed by Nasarawa (N9,451.70) and Bayelsa (N9,422.74). Proofreading by Funmilayo Aremu, copy editor at Legit.ng. Source: Legit.ng 0 AUTHORS: Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master’s degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng. TAGS: LAGOS STATE HOT: UTME PETROL PRICES MULTICHOICE GENERAL OVERSEER BALD CARTOON CHARACTERS Home Business and Economy Energy ENERGY Petrol Price Set to Rise as Ex-Depot Cost Hits N1,200 After Dangote’s Dollar Sales Policy 0 Published 17 Jul 2026 at 8:07 AM By  Victor Enengedi 3 min read Petrol’s average ex-depot price has increased following Dangote Refinery’s decision to suspend fuel sales in naira and switch to dollar payments Although many filling stations have not yet adjusted their pump prices, marketers expect fuel prices to rise as higher depot costs filter into the retail market PETROAN has warned that the dollar-based pricing policy could increase pressure on the naira, worsen inflation, and raise transportation and living costs Find it fast with our new search feature at Legit.ng! Legit.ng journalist Victor Enengedi has over a decade’s experience covering energy, MSMEs, technology, banking and the economy. The average ex-depot price of petrol has climbed from about N1,120 to N1,200 per litre, raising concerns that motorists could soon face higher pump prices across Nigeria. The increase comes days after the Dangote Petroleum Refinery announced the suspension of petroleum product sales in naira, opting instead for transactions in United States dollars. Petrol Price Set to Rise as Ex-Depot Cost Hits N1,200 After Dangote’s Dollar Sales Policy Source: UGC Industry stakeholders say the development has created fresh uncertainty in the downstream oil market and could trigger another round of fuel price increases. READ ALSO Dangote Refinery breaks silence on petrol sales suspension as fuel prices rise above N1,200/Litre From breaking news to viral moments. Follow Legit.ng on Instagram. Depot prices rise as marketers brace for retail adjustments A market survey across major fuel depots in Apapa, Lagos, showed that several depots have adjusted their ex-depot prices upward. Data obtained from petroleum trading platform Petroleumprice.ng indicated that Pinnacle increased its loading price from N1,225 to N1,250 per litre, while Sobaz sold at N1,210 per litre. Sahara and Ardova were both offering petrol at N1,150 per litre. Despite the rise at the depot level, many filling stations had yet to increase their pump prices as of Thursday. Most NNPC Retail outlets were still dispensing petrol at about N1,153 per litre. Industry marketers who spoke on the development said the market was still adjusting to the refinery’s new pricing arrangement. They, however, projected that many retail outlets would likely revise their pump prices upward by Friday, July 17, 2026, to reflect the higher landing costs. The survey also found that several MRS filling stations, one of Dangote Refinery’s major retail partners, were not selling fuel during the afternoon, adding to concerns over temporary supply disruptions. READ ALSO Nigerian filling stations release fresh petrol prices as Dangote, depots hike rates Petroleum marketers described the refinery’s latest pricing decision as a major disruption to the downstream sector, arguing that it has introduced uncertainty into fuel supply and pricing. They noted that the suspension of naira-denominated sales has compelled marketers to reassess their procurement strategies, with many now anticipating increased operational costs that could ultimately be transferred to consumers. PETROAN warns of inflation and forex pressure The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has criticised the move to price locally refined petroleum products in US dollars. Speaking on behalf of the association, its National Public Relations Officer, Dr. Joseph Obele, warned that denominating domestic fuel transactions in foreign currency would increase demand for scarce dollars, put additional pressure on Nigeria’s foreign exchange market and weaken the naira. According to him, higher foreign exchange costs would inevitably translate into increased petrol prices, higher transportation costs and more expensive goods and services, thereby worsening inflation across the country. Obele urged the Federal Government to strengthen and sustain the crude-for-naira arrangement to ensure local refineries receive adequate crude oil supplies. He also called on NNPC Limited to allocate more crude oil to domestic refineries to reduce reliance on imported crude and preserve naira-based petroleum transactions.