Liquefied petroleum gas, often known as cooking gas, prices are expected to increase more before the year’s end, therefore Nigerians have been forewarned to expect rougher times.
Gas merchants claim that the recent operations of the terminal owners have significantly increased the cost of cooking gas. According to them, 1kg cost N800 at the port as of last week; it is now N1,200 and, if caution is not exercised, could rise to N1,500 by December.
They claimed that if the Federal Government does not step in, 12.5kg of cooking gas, which currently sells for N10,000, may fetch as much as N18,000 by December.
88 Percent Increase In Kerosene And Gas Costs In A Year-NBS
Olatunbosun Oladapo, president of the Nigerian Association of Liquefied Petroleum Gas Marketers, said in an interview with The Punch that the cost of cooking gas “gone astronomically high at terminals as a result of a sudden increment from between N9-N10 million per 20 metric tons to N14million per 20 metric tons.”
According to research by Anaedoonline.ng, 3 kg of petrol that was once sold for N 2000 is now N 2,700, and 6 kg that was once sold for N 4,000 is now N 5,700 in several areas of Lagos State.
On Sunday, a litre of petrol cost about N850 in some areas of Ilorin, the capital of Kwara State, while several petrol retailer stores were closed.
Oladapo provided more information about the price increase and emphasised that there was no basis for it because Nigerian Liquefied Natural Gas Limited continued to supply the market.
Cooking Gas Marketers Stop Importation As Price Jumps By 240%
He said, “There is a ridiculous hike in gas prices going on right now, and I am afraid that if the Federal Government does not step in to checkmate the activities of these terminal owners, price could reach as high as N18m per metric tons by December. This means that a 12.5kg could go as high as N18,000.”
Oladapo further accused terminal owners of “hiding under the guise of high foreign exchange to increase price to further increase the suffering of the masses.
“NNPCL currently takes 59 per cent of the gas produced by NLNG, although NLNG has also increased its price from N6 million to N8 million. Now, because NLNG has increased its price, NNPCL and terminal owners have increased price to N14 million.
“The increase in price that would take effect is not the fault of retailers. It is the fault of NLNG and terminal owners. Even NNPCL is hiding under the guise that they are now privatised to increase prices. As of last week, 1kg was N800 at the terminal; now it is N1,200 and could reach N1,500 by December if care is not taken.
“What’s Going On In This Country?” Reality Star, Neo Bemoans The Cost Of Things
“Now, the ordinary man would not be able to buy gas. How many minimum wage earners can afford gas now? Everyone is turning to firewood and charcoal. The surprising thing was that they visited President Tinubu last week, and promised to work together with his administration to make life better. Now they have come back and started doing something else. Where are all the palliatives and buses they promised to donate? We have not seen anything.”
However, Friday Agwu of NavGas and Askay Kumar of Nipco Plc blamed the increase on foreign exchange and the global market.
Friday attributed the price increase to currency fluctuations and the hike in crude oil prices on the global market.
Contrarily, Kumar refuted claims that petrol was being sold at the terminal for N1,200 per kilogramme, saying, “No one is selling at N1,200/kg. The Nipco representative claimed, “I have not heard such a high price yet,” but he or she would not disclose the product’s landing cost.
Return Cooking Gas Price To How You Met It In 2015 – HURIWA Tells Buhari
“Flat price increase and forex challenges, and LPG responding to a crude price increase at the international market,” he submitted.
Follow us on Facebook
Post Disclaimer
The opinions, beliefs and viewpoints expressed by the author and forum participants on this website do not necessarily reflect the opinions, beliefs and viewpoints of Anaedo Online or official policies of the Anaedo Online.