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Thursday, May 23, 2024

Nigerians May Return To Using Charcoal As Gas Price Set To Increase – Gas Marketers

Consumers of gas appear to be in even more trouble as marketers have warned that prices may increase the following week.


The President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, listed a number of factors that contributed to the anticipated price revision, including increased international prices, high tax rates and vessel fees, a lack of foreign exchange, and naira depreciation.
“It is starting next week because international prices have gone up. The prices of vessels have gone up and taxes are high, but consumers are not earning 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.
Oladapo 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.
Herald Reporters gathered that the average cost of a 5 kilogram cylinder of cooking gas, also known as liquefied petroleum gas, dropped from N4,369.69 in May to N4,068.26 in June, a 6.71 percent decline.
In its Tuesday June Liquified Petroleum Gas (Cooking Gas) Price Watch, NBS made this information available.
In light of this, the result marks a 3.56 percent annual decline from June of last year, when it was N4,218.38


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