Eid Celebrations May Be Disrupted by Rapid Increase in Fuel & Cooking Gas Prices

Rising petrol and cooking gas prices across Nigeria are adding fresh pressure on households just as many prepare for Eid celebrations later this month, raising concerns that the festive period could be disrupted by soaring energy costs.

Motorists in Lagos are now paying as much as ₦933 per litre for Premium Motor Spirit (PMS), commonly known as petrol, while in Abuja the price has climbed to about ₦960 per litre at Nigerian National Petroleum Company Limited (NNPC) retail outlets. These increases follow a recent upward revision in ex-depot petrol prices by the Dangote Petroleum Refinery and reflect volatility in global energy markets caused by geopolitical tensions involving the United States, Israel and Iran. 

At the same time, the price of cooking gas (Liquefied Petroleum Gas, LPG) has surged dramatically. Industry sources say the price of LPG has risen by nearly 40 per cent in recent days, with retail rates reaching approximately ₦1,400 per kilogramme in many parts of Lagos and other cities. This jump directly impacts household budgets at a time when families are already spending extra on food, gifts and other essentials ahead of Eid. 

Energy analysts note that Nigeria’s LPG and petrol markets are sensitive to global benchmarks because a portion of Nigeria’s supply is still influenced by international prices. When crude oil climbs on international markets, as it has in the past week, distributors and marketers are often forced to adjust retail prices accordingly. 

The timing, coming when many Nigerians are organising Eid ul-Fitr celebrations, planning travel and preparing traditional meals, has underscored the pinch felt by ordinary families. Eid festivities usually involve increased cooking, gatherings and travel, all of which depend heavily on both petrol and cooking gas. Higher fuel and LPG prices mean that transportation costs, food preparation and other festival expenses are becoming more costly for millions of people.

Some traders at gas stations and markets describe a noticeable slowdown in activity, as customers hesitate to top up vehicles or refill LPG cylinders because of rising prices. Households that had hoped to host large Eid gatherings are now weighing their budgets more carefully, with many saying they may scale back plans in response to the rising cost of living.

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Economists warn that unless there is relief from further international price shocks, energy costs could stay elevated for some time, potentially pushing more families to ration cooking gas and reduce travel during the Eid period.

The combined effect of rising petrol and cooking gas prices has also sparked debate among consumer groups, who say policymakers need to act to shield households from continued shocks tied to global markets. For now, Nigerians preparing for Eid will be watching energy prices closely, balancing festive plans against rising everyday costs.