12.5kg cooking gas may sell for N10,000 by Dec – marketers

0
134

Marketers of Liquefied Petroleum Gas, better known as cooking gas, have warned that upward trajectory of the product  price in recent time may hit N10,000 for 12.5kg cylinder before December except the needful was done.

The Executive Secretary of the National Association of LPG Marketers, Mr Bassey Essien sounded this warning on Saturday at e-discourse organized by Platforms Africa, a statement released by the latter’s Team Lead, Adeola Yusuf said.

According to it, Essien opined that the only way to change the narrative in cooking gas rice is for government to review the recently introduced import charges and Value Added Tax.

“Today, the price has risen to N7,500 and N8,000. The skyrocketing price of gas is our fear and what we are trying to avoid. 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,” he was quoted as saying.

Sign up for our daily newsletter

Get the latest news delivered straight to your inbox every day. Stay informed with the Orijo Reporter's leading coverage of Nigerian and world news.

LEAVE A REPLY

Please enter your comment!
Please enter your name here