The ongoing conflict between Israel and Iran has triggered a fresh wave of price hikes, hitting Nigerians right in their kitchens. Cooking gas prices have jumped sharply, with ex-depot rates rising across major Lagos depots just days after Nigeria’s recent labour strike and amid renewed global supply fears.
Depot tracking by Petroleumprice.ng on Tuesday revealed that LPG prices have surged by ₦25 to ₦60 per kilogram, compared to pre-strike and pre-crisis levels further squeezing already strained household budgets.
LPG Prices Surge After Strike and Middle East Tensions
Here’s how current depot prices (June 24, 2025) compare with pre-strike levels before the global market reacted to the Israel-Iran clash:
| Depot | Now (₦/kg) | Before (₦/kg) | Change | % Change |
|---|---|---|---|---|
| Ardova | ₦895 | ₦865 | +₦30 | +3.47% |
| Navgas | ₦915 | ₦870 | +₦45 | +5.17% |
| 11PLC | ₦920 | ₦865 | +₦55 | +6.36% |
| NIPCO Lagos | ₦920 | ₦865 | +₦55 | +6.36% |
| Rainoil Lagos | ₦930 | ₦870 | +₦60 | +6.90% |
| Stockgap | ₦950 | ₦925 | +₦25 | +2.70% |
These numbers reflect data updated as of Tuesday morning.
Why Are Prices Rising?
There are two major reasons:
1. Middle East Tension
The Israel-Iran clash has rattled global oil and gas markets. Although no direct supply routes have been cut off, traders fear possible disruptions around the Strait of Hormuz, a major energy corridor. This fear alone has caused a spike in international prices, pushing Nigeria’s import-dependent LPG market along with it.
2. Strike-Induced Delays
Nigeria’s recent labour strike paralysed depot loading and vessel discharges. Even as operations resume, backlog, port congestion, and shipping premiums are driving up depot costs and these increases are now being passed on to consumers.
Nigerians Feel the Burn
In places like Ikorodu, Ojodu, and Port Harcourt, many families are now paying ₦15,000 to ₦16,000 to refill a standard 12.5kg gas cylinder.
“Last month, I paid ₦12,000 for a refill. Now it’s over ₦15,000. This is getting out of hand,” said Kehinde Musa, a hairdresser in Ikeja.
Some households are switching back to charcoal and firewood, despite the health and environmental risks, just to survive the pressure.
What’s Next?
With oil and gas prices still swinging due to the Middle East crisis, and Nigeria’s refineries still inactive, LPG prices may keep rising unless the federal government boosts domestic supply and addresses forex constraints for importers.
Energy analyst Dr. Chijioke Eke warned:
“Until we stop relying so much on imported LPG, international crises will always punish local consumers.”
Final Word
The Israel-Iran conflict may be happening thousands of kilometres away, but its economic aftershocks are being felt right here in Nigeria in kitchens, shops, and small businesses.
Unless supply chains stabilise soon and Nigeria ramps up local production, the cost of cooking gas will continue to climb, leaving millions of Nigerians gasping for relief.
For real-time depot price updates, visit Petroleumprice.ng or follow us on X, WhatsApp.
