Marketers have indicated that gas prices will increase next week.
According to The PUNCH, this was stated by the president of the Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, who advised gas consumers to prepare for price increases beginning the following week.
He cited rising international prices, high tax rates and vessel prices, forex scarcity, and naira depreciation as justifications for the planned price review.
“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 characterised the impending price increase as regrettable.
“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.
He claims that consumers are again moving back to using sawdust, charcoal, and firewood 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 encouraged the government to tax profit rather than goods because people were no longer buying petrol.
“Local taxes are worsening the problem,” he said, calling on marketers who had the opportunity to buy products locally to fix prices with “consumers’ sympathy” in mind.
