Independent Petroleum Marketers in Edo state have increased the price of Premium Motor Spirit to between N500 and N600 per litre following the announcement of the removal of fuel subsidy by President, Bola Ahmed Tinubu, during his inaugural speech after being sworn in.
Recall that President Tinubu had said during his inauguration: “On fuel subsidy, the budget I met before I assumed office and what I heard is that there is no provision for subsidy. Fuel subsidy is gone.”
Immediately after the president’s speech on Monday, petroleum marketers in the state allegedly discussed the issue on their platforms and commenced product hoarding for several hours.
But, few of them later opened for business at about 8.PM however increased the pump price from N200.00 a liter to N400.00.
Our Correspondent who monitored the situation on Tuesday observed that many filling stations were not open for business while those that opened hiked the price to between N500 and N600 per litre.
Filling stations on the Agbor Road, Ugbighoko, Airport, Ekehuan roads in Benin metropolis who sold N300 and N400 per litre on Monday increased prices to N500 and 600 per litre.
Some of the filling stations such as the NNPC mega station on the Sapele and Madam 200 filling station on Akpakpava road and Buvel filling stations selling at the normal price witnessed long queues of motorists waiting for fuel.
A commercial driver, Jude Ezekiel said most of the filling stations that are selling have increased pump prices between N500 and N600.
“I went to Mrs station that was selling N500 on Monday and increased the price to N600 today (Tuesday
“Conoil filling station has increased price to N500. I bought fuel at N400 per litre”
Another driver who only gave his name as Chinedu, decried that he bought fuel at N500 too, adding most of the filling stations, especially major marketers are not selling while those who are selling hiked their prices between.
Meanwhile, commercial drivers have increased transport fares by 100 and 200 per cent depending on the routes.
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