Oyo residents lament as marketers adjust pump price

Residents of Oyo state are currently lamenting over the sudden increment of the price of Premium Motor Spirit (PMS) also known as petroleum.

The Nigerian National Petroleum Corporation Limited, NNPC, on Tuesday announced that the price of PMS has been increased.

Newsmen correspondent, who spoke with residents of the state, observed that petrol stations in the state have adjusted the price of PMS.

The petrol stations were selling between N500 and N520 as on Monday depending on the location and the company.

They have however adjusted the price to reflect the new development owing to the announcement by NNPCL.

The commodity is now being sold between N580 and N600 by the major marketers.

While the price is between N600 and N650 at stations that belonged to the independent marketers.

From Ibadan, the state capital to Oke-Ogun, Oyo to Ogbomosp and back to Ibarapa zone, the situation remains the same.

A civil servant, identified as Mrs Adeola, lamented that many Nigerians are yet to adapt to the N500 per litter when a new price was announced.

“It is unfortunate. How do they want people to cope? Many people are now parking their cars at home,” she lamented.

A welder, Mr. Kolawole said that the new price will have a negative impact on the prices of goods and services.

“The implication is that the price of goods and services will increase further,” he said.