Price of 12.5kg cooking gas may rise to N10,000 by December – Marketers

Marketers of cooking gas in the country have predicted that 12.5kg of the product may sell at N10,000 by December this year.

The prediction came due to supply shortage leading to a persistent increase in the price of the commodity.

12 .5kg of Liquefied Petroleum Gas popularly called cooking gas is currently selling between N7,500 and N8,000.

This was disclosed by Executive Secretary of the National Association of LPG Marketers, Bassey Essien, through a statement by the organisation’s Team Lead, Adeola Yusuf, after the weekly e-discourse organised by a leading Pan-African forum, Platforms Africa, on Saturday.

Adeola said the government needed to review the recently introduced import charges and Value Added Tax, else “the price of cooking gas may as well reach N10,000 for a 12.5kg cylinder.”

“The skyrocketing price of gas is our fear and what we are trying to avoid,” he said.

“Early in the year a 20-metric ton of gas was selling for below N5m but today, the same tonnage sells for N10.2m.

“As long as there is that supply shortage, the available quantity and the dynamics of supply-demand will keep pushing the price higher.”

Due to the increased in price of cooking gas nationwide, Nigerians have resorted to using firewood, charcoal, sawdust, among other unrefined energy sources whose prices have also begun to rise.