Marketers of Liquefied Petroleum Gas (LPG) in Nigeria have identified the recent surge in cooking gas prices as being driven by the actions of terminal owners.
This revelation came during a meeting between the President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), Oladapo Olatunbosun, and the Senate Committee on Gas.
Over the past few months, the price of cooking gas has witnessed a significant increase, with marketers pointing fingers at terminal operators for abruptly raising prices in their respective terminals.
Last month, gas marketers raised concerns about the skyrocketing LPG prices at terminals, reporting an increase from approximately ₦9 to ₦10 million per 20 metric tonnes to ₦14 million per 20 metric tonnes.
“There is a disturbing upward trend in gas prices currently, and there’s a fear that without the Federal Government’s intervention to monitor terminal owners’ activities, prices could reach as high as ₦18 million per metric tonne by December.
This could translate to a 12.5kg cylinder of gas costing as much as ₦18,000,” warned the marketers.
A recent analysis of gas prices across different states reveals an increase of at least ₦1,200 per kilogram, leading to a substantial rise in the cost of refilling a 12.5kg gas cylinder to around ₦15,000.
Olatunbosun pointed out that there is no justification for purchasing the product at such exorbitant rates, as the price of LPG from the Nigerian Liquefied Natural Gas (NLNG) plant remains considerably lower than what terminal operators are charging.