Panic Hits Ibadan Community As Fuel Price Rises To N1,020
Residents of the Akobo area, Ibadan, on Friday rushed to filling stations following a sharp increase in the pump price of petrol, which has climbed to about N1,020 per litre in some outlets.
The development triggered panic buying across the area as motorists, commercial drivers and motorcycle operators besieged filling stations in a bid to secure fuel before prices rise further.
Long queues of vehicles were observed at some filling stations within the Akobo axis, while others were shut, with some motorists waiting for hours to purchase the product.
Some residents were also seen buying petrol in kegs, apparently to store fuel amid fears that the price may increase further or that scarcity could follow.
A resident of the area who identified himself as Kunle said the increase in pump price prompted many motorists to quickly buy fuel.
“People are afraid the price may go higher than this, so everyone is rushing to buy now,” he said.
Commercial drivers in the area expressed concern over the impact of the increase on transportation costs, noting that fares may soon go up if the situation persists.
As of the time of filing this report, most filling stations in the area were not dispensing fuel, however, the surge in demand has led to unusually long queues and slower service at those selling.
Residents have, however, called on authorities and fuel marketers to ensure stable supply and provide clear information to the public in order to prevent further panic buying.
Abiodun Ogunrinde is a Linguist and Journalist with considerable years of experience in Print Journalism. He blends creativity with a sense of reporting that addresses public concern and human interests.
