12.5kg Cooking Gas Price May Hit N18,000  – Gas Retailers Says

Gas retailers have noted that the price of 12.5kg cooking gas may hit N18,000 by December this year if the Federal Government does not restrict the activities of the terminal owners.

In an interview with Punch, the President, Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, said that the price of Liquefied Petroleum Gas also known as cooking gas has “gone astronomically high at terminals as a result of a sudden increment from between N9-N10m per 20 metric tons to N14m per 20 metric tons.

“There is a very 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.”

According to him, terminal owners were “hiding under the guise of high foreign exchange to increase price to further increase the suffering of the masses.”He insisted that the terminal owners have no justification for increasing prices as the Nigerian Liquefied Natural Gas Limited still supplied the market.