Premium Motor Spirit, also known as petrol, was on Tuesday increased to N617 per litre by some filling stations in Ondo State.
According to findings by our correspondents, fuel stations in the state increased their pump price to between N620 and N630 per litre.
It was gathered that the marketers jerked up the price from the previous N500, N510 and N520 per litre to between N620 and N630 per litre after the Nigerian National Petroleum Company Limited had announced the new pump price of petrol on Tuesday.
However, it was observed that long queues have returned to some filling stations which were selling the product at the old price of N530 per litre.
Also, many stations which were operating before Tuesday were under lock and key following the ugly development.
A petrol station manager, who identified himself simply as Taiwo said his station did not open for operation on Tuesday as the owner of the filling station was yet to decide on the price to sell the product.
He said, ” We are yet to sell because we don’t know how much to sell it and it will be very difficult to lift the product with this recent outrageous pump price. Our (station owner) is yet to decide on how much we will be selling it.”
Madukwe B. Nwabuisi is an accomplished journalist renown for his fearless reporting style and extensive expertise in the field. He is an investigative journalist, who has established himself as a kamikaze reporter.
