Marketers of Premium Motor Spirit PMS have lamented rapid decline in the sales of Product over price increase.
Investigation revealed that many people have abandoned their vehicles for public transport while people who managed to fill their tanks are little compared to pre subsidy removal
Recalled that the price of PMS changed from 195 per litre to N496 and it is being sold at 520 in most fuel station following pronouncement by president Tinubu in his Inaugural that ‘ fuel Subsidy is Gone”
The National Controller Operations, Independent Petroleum Marketers Association of Nigeria, Mike Osatuyi while giving reasons for the increase in the price of petroleum said ‘the current crude price at the international market and the landing cost. Those in Lagos will pay around N600, those outside Lagos around N600 plus, while those in the north would be paying anything from N700 and above,” he said.
Though he said the current price is a transition price because the marketers awaits roadmap from the federal government but while waiting Nigerians will have to buy fuel at a higher price.
In a chat with some of the marketers on Ibadan and Ogbomoso, they lamented serious decline and express optimism that most fuel stations may stop operation untill the problem is solved
” Many people who used to fill their tank before no longer buy like before, it now takes 3 weeks or more to sell what we used to sell in one week. Imagine we have not sold 33,000 litre in the last three weeks”
Another marketer who also did not want his name in print said even NNPC and most of the major independent marketers don’t have fuel now because the increase is very very high.
“Removing subsidy is a development that would engender development and save money but there should be palliative and other measure in place before the decision was taken by the government.
