Petrol hits N120 per litre in Ibadan


Scarcity of petrol in Ibadan, the Oyo State capital, has forced an increase in the pump price of the product. It is now selling at N120 per litre.

With most filling stations still closing their gates to motorists for the fifth day, the few that sold the product yesterday witnessed long queues of motorists, who struggled to buy the product.

In most areas, the scarcity forced the price of the product to between N110 and N120 per litre. Yet, hapless motorists queued up to buy.

The few stations selling the product at the high price were independent marketers.

But all BOVAS filling stations kept to the official price of N65.50k though its supplies fell short of demand by motorists.

An independent marketer, who craved anonymity, said the scarcity was a mark of the lingering problem in the oil sector.

He said the sector requires policy reform and transparency.