Market checks by TheCable on Thursday showed that the commodity had become more expensive at several retail outlets across the three locations.
In Festac, Lagos, Techno Oil increased its selling price from N1,450 to N1,650 per kg, representing a N200 rise.
Similarly, NipCo outlets at First Gate and the Trade Fair Complex raised their prices from N1,280 to N1,480 per kg.
In Ogun State, Ecogas LPG refilling plant in Sagamu increased its price from N1,500 to N1,600 per kg. Oyejo Gas Station in Shiwun also raised its rate to N1,650 per kg from N1,450.
The upward trend was also recorded in Abuja, where the price of LPG climbed from N1,700 to N1,800 per kg. However, NipCo retail outlets in the Federal Capital Territory sold the product at N1,650 per kg.
The latest increase comes amid a sharp rise in depot prices, which reportedly jumped by 31.8 per cent, from N1,100 to N1,450 per kg within one month.
A gas expert, Lawal Taofeek, attributed the development to seasonal demand in the international market, particularly the increased consumption of gas during Europe’s winter heating season.
According to him, rising demand from European countries is putting pressure on global gas prices, with the impact extending to LPG prices in Nigeria.
“This is the peak heating season in Europe, when demand for gas rises significantly as countries increase consumption for heating,” he said.
Taofeek explained that the seasonal increase in demand was contributing to higher international gas prices and was likely to sustain the upward pressure on LPG costs until late December or early January.
He, however, expressed optimism that prices could ease as the heating season comes to an end and global demand begins to moderate.
