Gas retailers have warned that the price of 12.5kg cooking gas may hit N18,000 by December if the Federal Government does not restrict the activities of the terminal owners.
The President, Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, told The PUNCH on Sunday, 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 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.”