This post was originally published on this site.
Cooking gas prices in Nigeria are approaching a new high due to global oil market instabilityConsumers face increased retail costs as depot operators adjust LPG rates amid geopolitical tensionsExperts warn of potential further price hikes if Middle East conflicts persist, deepening economic strain
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Fresh price adjustments by cooking gas depot operators across Nigeria have pushed liquefied petroleum gas (LPG), popularly known as cooking gas, closer to N1,400 per kilogram, raising concerns over the rising cost of living for households already under pressure.
The latest increase comes as global crude oil prices remain unstable following renewed tensions between the United States and Iran around the Strait of Hormuz, one of the world’s most critical oil shipping routes.
Nigerians groan as depot owners hike cooking prices nationwide. Credit: NurPhoto / ContributorSource: Getty Images
Oil market data from Oilprice.com
