PMS HIKE: Queues resurface in Kogi as Pump Price rises to 710 per litre
For like four days now the long queue of vehicles at the petrol stations in Kogi state has remained visible, as most of the fueling stations have changed the pump price of premium motor spirit (PMS) from #660 to #710 despite assurance from the management of NNPCL who assured Nigerians that there will not be any increase and that they have enough products to supply across the country.
According to our correspondent who went around Lokoja, the state capital confirmed that most of the fueling stations have closed and claimed that they have no product to sell whereas those who are bold enough open shops to sell to customers at #710 per litre.
Information also gathered from Okene, Kabba and Ayingba confirmed that most of the fueling stations are selling at the same price despite there being no official information from the regulatory body of any increase in the pump price.
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Nigerians who have high hopes expecting the incoming Dangote Refinery into full operation will reduce the pump price of #617 downward but the reverse is the case.
Some of the motorists who spoke to our correspondent commended the management of the Nipco fueling station in Kabba which still sells the product at 660 per litre, stressing that the government especially those agencies with supervisory roles should wake up to their responsibilities and stop the exploitation from those independent marketers who are fond of exploiting the people.
Some of the independent marketers who spoke confirmed that they are only selling at the rate they bought the products from Depot pointed out that they are expecting to hear from Dangote Refinery, which according to him might force the price down just like it is happening with diesel and aviation fuel.
It is a known fact that the pump price of Petroleum Motor Spirit (PMS) control the price of commodities in Nigeria, as market men and women continue to blame the high cost of goods on the removal of oil subsidy which has resulted to increase of fuel prices and high inflation.
