Fuel Scarcity: Petrol Sells For N120 Per Litre

Most filling stations are still closing their gates to motorists for the fifth day, the few that sold the product on Sunday, February 28 2016 witnessed long queues of motorists, who struggled to buy the product according to The Nation.

The scarcity forced the price of the product to sell between N110 and N120 per litre, yet motorists queued up to buy.

The recent fuel scarcity has forced an increase in the pump price of the product in Ibadan, Oyo State capital, as it is now selling at N120 per litre.

The few stations selling the product at the high price were independent marketers.

But all BOVAS filling stations kept to the official price of N65.50k though its supplies fell short of demand by motorists.

An independent marketer, who pleaded anonymity, said the scarcity was a mark of the lingering problem in the oil sector adding that the sector requires policy reform and transparency.

The fuel scarcity has affected hundreds of motorists in the Garden City of Port Harcourt as most of the filling stations in the city centre are locked up in keys.