Fuel price skyrockets, as litre sells for N500 in Ondo
Petrol dealers in Ondo state have increased the price of petrol to N500 per litre.
This development followed the adjustment in the pump price by NNPCL.
This came after President Bola Tinubu during his inauguration announced that the petrol subsidy was gone.
Long queues characterised the few filling stations that dispensed the product across the state even as residents groaned over scarcity.
While many had been selling the product for N500 since the President made the announcement, others who have been hoarding the product, started selling at N500 per litre after Wednesday’s adjustment by the NNPCL.
Both independent and major marketers in the state sold the product at the rate of N500 per litre.
A commercial driver, Limidi Adeyemi, who was interviewed said most of the filling stations that are selling have increased their pump price to N500.
According to him “It’s not surprising anymore in the state because we’ve been buying petrol at the rate of N500 per litre since the President made the ill-timed announcement.
Meanwhile, commercial drivers plying both inter and intra state, have increased transport fares by 100 and 200 per cent depending on the routes.
Civil servants and students were seen tracking to their offices and school following the hike in fares.