Queues at Filling Stations Over Looming Price Hike

 

(1) WHAT ? : The queues for petrol grew worse, growing longer, in some parts following the shutdown of many filling stations .

(2) HOW ? : Two weeks ago, queues of motorists were seen in many locations after oil marketers raised concerns about petrol pricing by depot owners and how this affected petroleum products supply.

The queues resurfaced on Saturday and Sunday, as only few filling stations were dispensing petrol while others were shut.

Many filling stations are not selling petrol perhaps because they have run out of stock or they are hoarding the product in anticipation of price increase,” the National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi, said.

(3) WHERE? : Some parts of Nigeria are already experiencing it. Motorists besieged the few outlets that were open for business in Abuja, Nasarawa, Niger and Borno states, while some others that had dispensed petrol the previous day were locked on Sunday

(4) WHY? : You need learnt that heightened expectations of an increase in the pump price of the product is solely responsible for the
long queues.

The international oil price, Brent crude, rose by more than 14 per cent in February as it closed at $64.42 per barrel, up from $56.42 per barrel at the start of the month.

(5) WHO ? : The Minister of State for Petroleum Resources, Chief Timipre Sylva, had on February 9 said Nigerians should prepare for the pain associated with the increase in crude oil price.