Economy

Ibadan Residents Frown At New Pump Price Of Petrol

The level of compliance to the new increase in pump price of premium motor spirit, PMS, from one hundred and sixty naira to one hundred and seventy naira per liter by filling stations in Ibadan has not taken effect.

The new price which was announced last night by the Petroleum Products Marketing Company, PPMC, a subsidiary of the Nigerian National Petroleum Corporation, NNPC.

Our correspondent who monitored the situation in Ibadan observed that a good number of filling stations sold at one hundred and fifty-nine naira per litre.

However, many major marketers had not changed their price from one hundred and twenty five to the new price.

One of the major marketers who spoke on the condition of anonymity said they were waiting for directive from the headquarters.

Some motorists and commercial drivers who spoke with Radio Nigeria on the new pump price frowned at the development and enjoined the federal government to make the country refineries work so as to put an end to incessant increase of the petroleum products.

They, however, commended the independent marketers for taking their time before effecting the new price.

Olukemi Akintunde

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