From Oluseye Ojo, Ibadan
A litre of Premium Motor Spirit (PMS) has hit N500 in the black market in Ibadan, the Oyo State capital.
A tour of Ibadan revealed that hawkers of the commodity are in different parts of Ibadan, selling five litres of the product for N2,500 and four litres for N2,000.
Motorists and individuals that could afford the exorbitant price were seen buying the product from the hawkers. It was further observed that majority of filling stations owned by independent and major marketers have not been dispensing the commodity.
As gathered, but for three fuel stations, the Ibadan residents would have had stiffer difficulty in getting the commodity. The three fuel stations, Bovas, SAO and GASTAB, in all their outlets across the state, have been dispensing the PMS at the official pump price of N162 per litre. This led to long queues in all their outlets at Total Garden, Idi-Ape, Mokola, Dugbe, Idi-Ose, Agodi, New Garage, Akobo and Iwo Road.