Petrol stations owners in Osun State have been cautioned by the Osun State Government Taskforce on Petroleum Price Monitoring against hoarding petroleum products in order to create an artificial scarcity. The Chairman of the taskforce and the Chief of Staff to the State Governor, Kazeem Akinleye, issued this warning in Osogbo on Sunday.
This warning comes in response to increasing reports of a rise in the pump price of Premium Motor Spirit (PMS), also known as petrol, and the resurgence of long queues at filling stations in certain parts of the country. In some locations, the pump price of PMS has soared to between N700 to N750 per litre.
Akinleye pointed out that the taskforce’s surveillance has uncovered that most filling stations have been hoarding petrol, thereby exacerbating the fuel supply situation in the state.
After conducting surveillance activities in major towns and the state capital over the past three days, it was evident that there was a deliberate hoarding of fuel to generate an artificial scarcity. The taskforce has therefore issued a stern warning to the affected filling stations that have been identified as the main culprits, instructing them to open up their tanks and dispense fuel to the public.
While encouraging marketers to consider the public welfare in pricing petroleum products, the taskforce reminded them of the challenging economic conditions faced by the public. The statement further warned that failure to cease fuel hoarding and show compassion towards the prevailing economic situation in the country will result in severe sanctions being imposed.