Cooking Gas Price to rise Next Week- Marketers

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Gas users are headed for a rough ride, as marketers have warned that prices could rise next week.

Olatunbosun Oladapo, President of the Nigerian Association of Liquefied Petroleum Gas Marketers, warned gas consumers to brace themselves for price increases beginning next week.

He highlighted rising international prices, high tax rates and vessel prices, forex scarcity, and naira depreciation as reasons for the planned pricing revision.

According to him, “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.”

Olatunbosun called the upcoming price increase “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 that, “The government should come in and alleviate the suffering of the masses by providing palliatives, reducing taxes and levies.

“You can imagine that for every 1kg of gas priced at N700, tax would take way N3.50. How much is left in such a business?”

According to him, consumers are reverting back to firewood, charcoal, and sawdust for cooking. He encouraged the government to tax profits rather than products because customers were no longer purchasing petrol.

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