FUEL: PANIC BUYING IN OWERRI FILLING STATIONS OVER SPECULATION OF PRICE INCREASE

Some filling stations in Owerri have shut down over speculation that fuel pump price would be increased to One Thousand and Two Hundred Naira (₦1,200) in January, by the Federal government.

Also, some were selling as the time The Statesman reporter visited their stations within the metropolis, yesterday.

Along Okigwe road, Ebere Link’s filling station was under lock and key hereas SOBAZ within that area was dispensing fuel to its customers at normal price of ₦680 per litter.

Even on Thursday, December 4th, 2023, most filling stations in operation recorded unprecedented long vehicular queues and other customers that besieged the fuel attendants with gallons to buy petrol.

The rumours can be said to have forced some petroleum marketers to start hauling their products in order to make profits if, eventually, the price increases.

Meanwhile, The Nigerian National Petroleum Company (NNPC) Ltd, has assured the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.

In a Press release signed by the Chief Corporate Communications Officer, Olufemi Soneye, recently, the NNPC Ltd urges Nigerians to disregard unfounded rumours and assured them that there are no plans for an upward review of the PMS Price.

“Motorists nationwide are advised against engaging in panic buying, as there is presently ample availability of PMS across the country”.