Energy costs rise as gas hits ₦1,500/kg
By Okeagu Oluchi & Ayuba Kehinde
The price of cooking gas has risen by 25 per cent to ₦1,500 per kilogramme from ₦1,200, adding to the rising energy costs faced by households and businesses.
This is even as the price of diesel, also known as Automotive Gas Oil (AGO), climbed to as high as ₦2,300 per litre at some filling stations and depots, representing a 4.5 per cent increase from the ₦2,200 recorded in August 2026.
The latest mid-day depot price report for September 16, 2026, showed sharp increases in diesel prices, particularly in Lagos and Port Harcourt, Rivers State.
In Lagos, Ibachem recorded the biggest increase, with its AGO price rising from ₦1,830 to ₦2,000 per litre, a ₦170 increase.
Ibeto followed with a ₦135 increase, from ₦1,835 to ₦1,970 per litre, while Duport and Integrated each recorded ₦110 increases to ₦1,940 per litre.
Ardova also raised its AGO price by ₦20 to ₦1,970 per litre, while Eterna and Rain Oil sold at ₦2,000 per litre. Nipco sold at ₦1,950.
The upward movement was also recorded in Port Harcourt, where African Terminal, Duport and Integrated increased their AGO prices by ₦110 each to ₦1,940 per litre.
In Warri, Matrix raised its diesel price by ₦40, from ₦2,080 to ₦2,120 per litre, the highest depot price recorded in the report.
The development could further increase operating and logistics costs for businesses and industries that depend on diesel for power generation, transportation and other operations.
Meanwhile, petrol prices in Lagos remained within a narrow range of ₦1,350 to ₦1,353 per litre.
Dangote, Pinnacle and A.A. Rano recorded ₦1 reductions, while Ascon and Integrated increased their prices by ₦2.
MRS maintained its price at ₦1,352 per litre, while Sahara and African Terminal increased their prices by ₦1 each to ₦1,352.
Some of the sharpest petrol price reductions were recorded in Calabar. Alkanes reduced its price by ₦17 to ₦1,338 per litre, while Matrix cut its price by ₦10 to ₦1,355. Mainland and Soroman also reduced their prices to ₦1,338.
In Warri, Matrix and Keonamex maintained petrol at ₦1,350 per litre, while Nepal and Prudent reduced their prices by ₦10 each to ₦1,340. Rain Oil retained its price at ₦1,350.
The divergent price movements underline the pressure facing diesel users, with AGO selling above ₦2,000 per litre at some depots even as petrol prices remain relatively stable.
Manufacturers, transport operators, telecommunications companies, small businesses and other diesel-dependent users could face higher operating costs if the upward trend persists.
Speaking with Vanguard, Lawal Kamaldeen, Vice-President, Oil and Gas Service Providers Association of Nigeria (OGSPAN), said the downstream sector had remained unstable, with frequent price increases.
“The downstream sector has been very unstable, characterised by frequent leaps in prices due to the prolonged USA-Iran war. Prices are likely to continue to be unstable in the coming weeks,” he said.
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