Independent marketers forced to cut down price in Ekiti

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Independent petroleum marketers in Ekiti State have reduced fuel price to below N200 per litre.

The new price is coming second day of the sale of petroleum in the government’s house pump to the public.

Governor Ayodele Fayose had on Monday directed the sale of the fuel at pump price of N145 per litre to the public to cushion the effect of the hardship of the fuel scarcity during Christmas.

A tour round the state capital on Wednesday shows that the sale of the government fuel was still ongoing at Alade Filling Station, Iyin Ekiti road.

Also Phenrose Oil and Gas, Irona was selling the fuel at N180 per litre to motorists.

NIPCO filling station at Adebayo Road and Akinbami filling station in Ureje also sell at N190 per litre.

This was against the price of N400  and N500 per litre it was sold at black market on Monday, and also the N250 and N200 some filing stations were selling before Monday.

Many of the independent marketers had been selling fuel at outrageous prices before the intervention of Fayose.

Many independent marketers who had been hoarding the commodity in anticipation of a hike in price are now forced to sell the products.

An manager in one of the Independent marketters’ outfit, who spoke to Correspondents and pleaded anonymity, said the root cause of the fuel scarcity is that independent marketers had been getting pump price at N150 from source, and had a dilemma of selling it at official price of N145 or N143 as some of them were known for.

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