Cooking Gas Price To Rise Next Week, Say Marketers

Gas consumers are headed for a rough ride, as marketers have warned that prices could rise next week.

Olatunbosun Oladapo, President of the Nigerian Association of Liquefied Petroleum Gas Marketers, warned gas consumers to brace themselves for price increases beginning next week.

He highlighted rising international prices, high tax rates and vessel prices, forex scarcity, and naira depreciation as reasons for the planned pricing revision.

“It will begin next week because international prices have risen.” Ship prices have risen, and taxes have risen, but consumers have not earned more.

“Their purchasing power has gone down. Everybody is crying. Consumers, middlemen, and retailers are feeling the impact because business is now on the low side,” he said.

Olatunbosun described the imminent price increment as unfortunate.

“The situation is very unfortunate because prices are going higher. Nigerian consumers are passing through very difficult times because they can no longer afford gas,” he added.

According to him, consumers are now returning to firewood, charcoal, and sawdust for cooking.

“The government should come in and alleviate the suffering of the masses by providing palliatives, reducing taxes and levies.

“You can imagine that for every 1kg of gas priced at N700, tax would take way N3.50. How much is left in such a business?” he continued.

He urged the government to tax profit and not products because consumers were not buying gas anymore.

“Local taxes are worsening the problem,” he said, calling on marketers who had the opportunity to buy products locally to fix prices with “consumers’ sympathy” in mind.