Marketers of Liquefied Petroleum Gas, popularly called cooking gas, have predicted that 12.5kg of the product may sell at N10,000 by December.
The prediction came due to supply shortage leading to a persistent increase in the price of the commodity.
12 .5kg of cooking gas is currently selling between N7,500 and N8,000.
Executive Secretary of the National Association of LPG Marketers, Bassey Essien, who disclosed this in 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 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.”
21st CENTURY CHRONICLE observed that Nigerians have resorted to using firewood, charcoal, sawdust, among other unrefined energy sources whose prices have also begun to rise.
