The new Premium Motor Spirit (PMS) pump prices, or gasoline prices, announced on Tuesday by the Nigerian National Petroleum Company (NNPCL), have shocked drivers and commuters in Ibadan.
According to The News Agency of Nigeria, NNPCL stated on Tuesday morning that the price of gasoline at the pump would increase from N539 to N617 in reaction to market conditions.
As word of the fuel price hike spread, some filling stations quickly closed their doors, with their managers stating that they were awaiting further instructions from the authorities, a NAN correspondent who was traveling around the Ibadan city noticed.
Additionally, according to NAN, large lines of vehicles were seen at the few filling stations that were selling the commodity, which was being sold for between N560 and N650 per litre.
Mr. Anu Alani, a driver, claimed that when he awoke on Tuesday, he saw that many gas stations were closed and those that were selling had raised their prices to N650 per litre.
“I was thinking that when I go farther, I would see where I could buy fuel at the normal price but I didn’t. I don’t know what to do again as the economic situation is already bad,” Alani said.
Another motorist, Mrs Ayoola Olaoba, said that she would have to find a means of leaving the country, as things did not look like it would get better soon.
“I bought fuel some days ago at N520 only for me to see some of my colleagues saying it has increased to N620. I said just like that!
“I do not think I can continue with the uncertainty trailing the present economic situation,” she said.
A commercial motorist, Mr Gbenga Oriowo, said that the new price would definitely have an attendant effect on transport fares.
“I am still in queue now and there is little or no probability that I will get fuel, and even if I get, I cannot but increase the transport fare. We will all have to bear the situation,” he said.
According to Oriowo, the government must inform Nigerians of the situation and the justification for the new price structure.
Mrs. Funmi Alli, a different driver, claimed that some large marketers had shut down their gas stations, and that this had led to huge lines where fuel was still available.
She expressed concern that the rise in fuel prices will have a domino effect on other prices, including those for food and other necessities, thereby worsening the hardship already experienced by Nigerians.
NAN remembers that there were rumors that the price of gasoline may increase to N700, but these rumors were disproved by those involved in the petroleum industry.
