The cost of refilling cooking gas cylinders has surged in Lagos, impacting both traders and consumers. As of late July, the new cooking gas fee for a 12.5 kg cylinder is now N15,600, a significant increase from the previous N14,500 earlier in the month. This hike also affects smaller quantities, with 1 kg now costing N1,300, up from N1,200.
Gas vendors are expressing concerns over this rise, citing the depreciation of the naira as a major cause. Many customers are abandoning these vendors due to the higher prices, leading to low turnover and financial strain on their families and businesses.
Customers, like Femi Bakare and Kate Paulo, have voiced their frustrations, highlighting the challenges the new cooking gas fee imposes on their daily lives. The inconsistency in prices makes it difficult for families to budget effectively, exacerbating the financial burden.
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Government Intervention Needed
Gas merchants are urging the government to address the soaring costs. They believe intervention is necessary to stabilize prices and relieve the financial pressure on both sellers and consumers.
Impact on Businesses and Households
The new cooking gas fee is not just a burden for households but also affects small businesses that rely on cooking gas for their operations. Many food vendors and restaurants are finding it difficult to manage their expenses with the rising gas prices. This increase has led some to consider alternative energy sources, though these may not be as efficient or affordable.
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Long-term Implications
The continuous rise in cooking gas prices could lead to a significant shift in how Nigerians manage their energy needs. If the new cooking gas fee remains high, it might push more people towards using traditional cooking methods, which could have environmental impacts. Moreover, the higher cost of cooking gas can contribute to inflation, affecting the overall cost of living.
Consumer Advice
Consumers are advised to stay informed about price changes and look for vendors offering the best rates. Bulk purchasing and efficient usage can also help manage costs. Additionally, staying updated on government policies regarding energy prices can provide insights into future price trends.
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