Fuel Sells For N500 Per Litre In Oyo As Petrol Scarcity Worsens

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Fuel Sells For N500 Per Litre In Oyo As Petrol Scarcity Worsens

The scarcity of petrol worsened on Friday in Ibadan, the Oyo capital, with long queues dotting the few filling stations where the product is available.


A visit round the metropolis, showed that the scarcity had also led to a hike in the price of the product.


The price ranged from N120 to N150 per litre in some filling stations while it was being sold for about N500 per litre in some black market outlets.

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The scarcity of petrol also led to a hike in transport fares in many motor parks in Ibadan.


The fare to Lagos by taxi, which used to be N1,250 is now between N1,500 and N2,000.


Similarly, the same trip by bus which used to cost N800 is now between 1,300 and N1, 500 depending on final destination in Lagos..


But Mr Olakunle Ogunlana, the Operation Controller, Department of Petroleum Resources(DPR) in Ibadan, said the current scarcity was a temporary development.


He said that the Minister of Finance, Mrs Ngozi Okonjo-Iweala, had given an assurance that the issue would be resolved soon.


There had been scarcity of petrol at fuel stations across the country due to protest by oil marketers over non payments of their claims.


The Federal Government , however, on Thursday paid the sum of N156 billion to the oil marketers in a bid to tackle the scarcity..(NAN)