Fuel: marketers reduce price in Ekiti

fayose-2-300x182 Fuel: marketers reduce price in Ekiti

Marketers have reduced petrol prices in Ekiti.

The marketers, who had been hoarding the commodity in anticipation of a hike in price, are now selling the products.

The marketers have been selling at prices  below N200 per litre, barely two days after Governor Ayo Fayose commenced the sale of fuel from the Government House dump at Alade Filling Station, Ado-Ekiti at government approved N145 per litre.

Phenrose Oil and Gas, Irona in Ado-Ekiti, the state capital was selling the fuel at N180 per litre yesterday.

NIPCO Filling Station on Adebayo Road and Akinbami Filling Station in Ureje sold at N190 per litre. This was against between N200 and N250 some outlets were selling the commodity before Christmas/Boxing Day break.

The price was between N400  and N500 per litre it at the black market on Monday,

A manager in one of the filling stations who craved anonymity, said the latest scarcity was triggered by the purchase of the commodity at  N150 from source.

He said: “Truth of the matter and root cause of this fuel palaver is that the independent marketers have been getting fuel litre at N150 from source.

These marketers have a dilemma of selling above official pump price of N145 and gain but incur the wrath of the public or sell at either N145 or below, and lose in the transaction.

“But some of them are wise; instead of selling all the content they receive, they rather divert bigger amount of it to smaller filling stations who sell to members at N200 or N250 and above.

“This is why the major marketers do not have much fuel to sell to members of the public who queue at their stations for days.

“I do not think you would blame them for doing this because no one wants to do business and fail.”

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