…as marketers sell a litre for N250 to N300

Sequel to Monday’s announcement of the removal of fuel subsidy by President Bola Ahmed Tinubu, queues have started building up in many parts of Oyo state, just as many commuters were seen stranded due to scarcity of cabs and commercial motorcycles.

At some filling stations where fuel was being dispensed, very long queues of vehicles were seen with customers struggling to buy the product.

Contrary to the previous N190, N200 to N230 per litre being dispensed, commuters were buying a litre of the product for between N250 and N300.

Panic buying was noticed as many people are of the belief that a litre of petrol might eventually cost about N600 or N700 in days to come when those dispensing the product in their tanks make new purchases.

Black market operators have been selling 5 litres of petrol for between N1,500 and N2,000.

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