Gas Price Set For Sharp Rise

Gas Price Set For Sharp Rise

Cooking gas prices in Nigeria are set to climb to about ₦1,500 per kilogram as depot stocks continue to fall across the country.

The development is already raising concern among households and small businesses that depend on gas for daily cooking.

Market checks show that low supply at major depots has pushed up wholesale costs, which is expected to reflect quickly in retail prices.

Dealers say distribution has become tighter in recent days, creating pressure along the supply chain.

The shortage has been linked to reduced inflow from suppliers and rising demand in several parts of the country.

Operators in the sector warn that the situation could worsen if fresh supply does not stabilise soon.

Consumers are likely to pay more in the coming days as traders adjust prices to match market conditions.

Industry players say the next few weeks will be key in determining whether prices will stabilise or rise further.