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Petroleum Marketers Bow To Fayose, Cut Down Fuel Price

Independent petroleum marketers in Ekiti have reduced fuel price to below N200 per litre.

The new price came second day of the sale of petroleum in the Government House pump to the public.

Governor Ayodele Fayose had on Monday directed the sale of the fuel at pump price of N145 per litre to the public to cushion the effect of the hardship of the fuel scarcity during Christmas.

A tour round the state capital on Wednesday shows that the sale of the government fuel was still ongoing at Alade Filling Station, Iyin Ekiti road.

Also Phenrose Oil and Gas, Irona, was selling the fuel at N180 per litre to motorists.

NIPCO filling station at Adebayo Road and Akinbami filling station in Ureje were selling at N190 per litre.
The stations were selling between N200 and N250 before Monday, while the price was between N400 and N500 per litre at the black market.

An manager in one of the Independent marketers’ outfit, told DAILY POST, that the root cause of the fuel scarcity was that marketers had been getting pump price at N150 from source, and had a dilemma of selling it at official price of N145 or N143 as some of them were known for.

“Independent marketers have been getting fuel litre at N150 from source. These marketers have a dilemma of selling above official pump price of N145 and gain but incur the wrath of the members of the public or sell at either N145 or below, and lose in the transaction.

“But some of them are wise, instead of selling all the content they receive, they rather divert bigger amount of it to smaller filling stations who sell to members of or he public at exorbitant costs of N200 or N250 and above.
“This is why the major marketers do not have much fuel to sell to members of the public who queue at their stations for days with it getting fuel.

“I do not think you would blame them for doing this because no one wants to do business and fail, he said.
However, the reduced prices and stoppage of fuel hoarding are only more pronounced in the state capital.
In outskirts of Ekiti, residents still complain of either not getting fuel, relying on black market sale of N500 and above or getting fuel from very few filling stations at N240 or N260 per litre.

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