Petrol hits ₦1,532, gas at ₦1,800: 5 ways rising energy costs are making life harder for Nigerians

• Petrol now costs between ₦1,340 and ₦1,532 per litre, while the prices of cooking gas, diesel, and kerosene have also increased significantly.

• Higher fuel costs may lead to increased transport fares, food prices, and operating costs for businesses across Nigeria.

• From cooking and commuting to powering generators, Nigerians may have to spend more on essential daily needs as the cost-of-living crisis deepens.

For many Nigerians, surviving the current economic climate has become a daily struggle. 

Just when households and businesses were beginning to adjust to previous increases in fuel costs, fresh energy prices are threatening to put even more pressure on already stretched budgets.

In parts of the country, petrol has climbed to as high as ₦1,532 per litre, while cooking gas now sells for between ₦1,500 and ₦1,800 per kilogram. 

Diesel prices have risen to between ₦1,200 and ₦1,700 per litre, while kerosene has reached an eye-watering ₦2,976 per litre in some locations.

While these figures may seem like just numbers, they have far-reaching consequences for millions of Nigerians who rely on these energy products every day.

One of the first places Nigerians may feel the impact is in the cost of food.

Farm produce often travels hundreds of kilometres before reaching markets in major cities. With transport costs expected to increase, traders may pass the additional expenses on to consumers.

This means staple foods such as rice, beans, tomatoes, onions, garri, and yams could become more expensive in the coming weeks if transport and logistics costs continue to rise.

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For families already struggling with inflation, another increase in food prices could further reduce purchasing power.

Commercial transport operators depend heavily on petrol and diesel.

As fuel prices increase, transport unions and drivers often adjust fares to offset their operating costs. 

This affects commuters who rely on buses, tricycles, motorcycles, and ride-hailing services for daily movement.

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For workers and students who commute every day, even a small increase in transport fares can significantly affect monthly expenses.

Cooking gas was once promoted as a cleaner and more affordable alternative to kerosene and firewood.

However, with gas now selling for as much as ₦1,800 per kilogram in some areas, many households may find it increasingly difficult to refill their cylinders.

Some families may be forced to reduce usage, switch back to kerosene, or seek cheaper alternatives despite the health and environmental concerns associated with them.

The latest energy price increases are also bad news for small and medium-sized enterprises.

From restaurants and bakeries to hair salons, frozen food vendors, and welding workshops, many businesses depend on fuel-powered generators because of unreliable electricity supply.

Higher diesel and petrol prices mean higher operating costs, which may eventually be passed on to customers through increased prices.

Businesses that cannot absorb these costs may see reduced profits or struggle to stay afloat.

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Many Nigerians already rely on generators to supplement the unstable power supply.

With petrol and diesel prices remaining high, the cost of running generators continues to increase. 

This means households and businesses may spend more to keep lights on, power appliances, and maintain daily operations.

For some families, generator usage may become less frequent as they attempt to cut costs.

The latest energy prices come at a time when many Nigerians are already dealing with rising food prices, increasing rent, school fees, healthcare costs, and other household expenses.

As a result, every new increase in fuel-related costs raises concerns about how much more consumers can afford.

Many fear that higher energy prices could trigger another round of inflation, affecting everything from transportation and food to services and consumer goods.

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Whether prices stabilise or continue to rise will depend on several factors, including global oil market trends, exchange rate movements, distribution costs, and domestic supply conditions.

For now, however, millions of Nigerians are bracing for the ripple effects of yet another increase in the cost of energy.

And as petrol approaches ₦1,532 per litre and cooking gas reaches ₦1,800 per kilogram, one thing is becoming increasingly clear: the cost of everyday living in Nigeria continues to climb.