Cooking gas (LPG) prices in Nigeria recently jumped sharply from around ₦1,300 per kilogram to as high as ₦2,000 per kilogram in many areas, causing serious concern among households.

The article explains that this sudden increase is not due to one single factor but a combination of seasonal and structural pressures affecting the market.

A major driver is the festive Eid al-Adha (Ileya) season, which leads to a massive surge in demand for cooking gas as families, restaurants, and catering services prepare large amounts of food.This sudden demand creates a temporary shortage because supply does not increase at the same pace, pushing prices upward quickly.Many people also rush to refill cylinders at the same time, which worsens the scarcity situation.Another important factor is transportation costs.During festive periods, truck drivers and logistics operators increase their charges due to heavy traffic and higher demand for deliveries.These extra costs are passed down the supply chain and eventually reflected in retail prices paid by consumers.The article also highlights deeper economic issues such as foreign exchange volatility and high landing costs for LPG imports.Since local gas pricing is tied to the US dollar, fluctuations in forex rates keep baseline prices high and make the market more sensitive to shocks.

Additionally, supply bottlenecks at major depots have contributed to temporary scarcity, as delays and reduced availability of product force retailers to adjust prices upward.Overall, experts suggest the current spike is largely temporary and driven by seasonal pressure.

Once the festive period ends and supply chains stabilise, prices are expected to gradually reduce, though long-term FX challenges may still keep LPG relatively expensive in Nigeria.