Marketers predict the price of cooking gas increase next week.

Consumers of gas are in for harder times because marketers have suggested that prices would increase the next week.

Gas consumers should prepare for price increases starting the following week, according to Olatunbosun Oladapo, president of the Nigerian Association of Liquefied Petroleum Gas Marketers.

He listed several factors for the anticipated pricing review, including rising global prices, high tax rates and shipping costs, a lack of foreign exchange, and a depreciating naira.

“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.

Olatunbosun 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.

According to him, consumers are now returning to firewood, charcoal, and sawdust for cooking.

“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?” he continued.

He urged the government to tax profit and not products because consumers were not buying gas anymore.

He claimed that “local taxes are exacerbating the issue” and urged marketers who offered local people the chance to purchase their goods to set pricing with “consumers’ sympathy” in mind.