Fuel Price Spike: Akure Residents Struggle as Petrol Rises from ₦850 to ₦1,100

Key Takeaways

• RESIDENTS OF AKURE, THE CAPITAL OF ONDO STATE, ARE CURRENTLY FACING FRESH HARDSHIP FOLLOWING A SUDDEN SURGE IN THE PRICE OF PREMIUM MOTOR SPIRIT (PMS), POPULARLY KNOWN AS PETROL WHICH PREVIOUSLY SOLD FOR ABOUT 850 NAIRA PER LITRE, HAS RISEN SHARPLY TO BETWEEN 1,080 NAIRA AND 1,100 NAIRA PER LITRE AT SEVERAL FILLING STATIONS ACROSS THE CITY.
• RESIDENTS OF AKURE, THE CAPITAL OF ONDO STATE, ARE CURRENTLY FACING FRESH HARDSHIP FOLLOWING A SUDDEN SURGE IN THE PRICE OF PREMIUM MOTOR SPIRIT (PMS), POPULARLY KNOWN AS PETROL WHICH PREVIOUSLY SOLD FOR ABOUT 850 NAIRA PER LITRE, HAS RISEN SHARPLY TO BETWEEN 1,080 NAIRA AND 1,100 NAIRA PER LITRE AT SEVERAL FILLING STATIONS ACROSS THE CITY.THE DEVELOPMENT HAS ALSO BEEN ACCOMPANIED BY SCARCITY OF THE PRODUCT, AS MANY FILLING STATIONS WERE EITHER CLOSED OR DISPENSING FUEL TO LONG QUEUES OF MOTORISTS AND COMMERCIAL TRANSPORT OPERATORS.HOWEVER, THE FEDERAL GOVERNMENT, THROUGH THE NIGERIAN NATIONAL PETROLEUM COMPANY LIMITED, HAS BEGUN MOVES TO SECURE CRUDE OIL SUPPLY FOR THE DANGOTE PETROLEUM REFINERY THROUGH THIRD-PARTY INTERNATIONAL TRADERS, IN A BID TO SUSTAIN DOMESTIC REFINING OPERATIONS.MEANWHILE, REPORT REVEALED THAT THE INTERVENTION MAY NOT IMMEDIATELY TRANSLATE INTO LOWER PETROL PRICES FOR CONSUMERS.
• This story is filed under News on Glow 99.1 FM.