Gas retailers have warned that the price of 12.5kg cooking gas may hit 18,000 naira by December if the Federal Government does not restrict the activities of the terminal owners.

The President, Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, told journalists that the price of cooking gas has “gone astronomically high at terminals as a result of a sudden increment from between 9-10 million naira per 20 metric tons to 14 million naira per 20 metric tons.

According to him, terminal owners were hiding under the guise of high foreign exchange to increase price to further increase the suffering of the masses.

Olatunbosun said there was no justification for the increment, as the Nigerian Liquefied Natural Gas Limited still supplied the market.

He warned that retailers should not be blamed for the hike insisting that only the NLNG and terminal owners were at fault. 

He explained that as of last week, 1kg was 800 naira at the terminal, now it is 1,200 naira and could reach 1,500 naira by December if care is not taken.