Gas retailers have warned that the price of 12.5kg Liquefied Petroleum Gas (LPG) otherwise known as cooking gas may hit N18,000 by December if the Federal Government does not restrict the activities of the terminal owners.
According to reports, this was made known by the President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGM), Olatunbosun Oladapo, who said that the price of cooking gas has skyrocketed at terminals.
Oladapo noted that there has been a sudden increment from between N9-N10 million per 20 metric tons to N14 million per 20 metric tons.
He said that if the federal government doesn’t intervene, the price of gas could potentially reach N18 million per metric ton by December.
The NALPGM boss had in August hinted that Nigerians will pay higher costs for cooking gas from mid-August 2023.
He attributed the reasons for the expected increase to include rising international prices, high tax rates, high prices of vessels, forex scarcity, and naira devaluation.
The prices of cooking gas had in recent times shot up, with 12.5kg cylinder of cooking gas going as high as high as N10,000.
