From Oluseye Ojo, Ibadan

Majority of petrol stations in Ibadan, the Oyo State capital, have stopped dispensing Premium Motor Spirit (PMS) to customers, which made fewer vehicles to be on the road.

The few fuel stations that have, however, been dispensing the commodity to the public have adjusted their metres, to N500 per litre.

A popular major marketer that dispensed the commodity at the rate of N195 up till the early morning of Wednesday, March 31, stopped selling the PMS abruptly.

The gate of the outlet was shut when some vehicles were within and outside the premises, waiting in queue for their turn. But those that had entered the premises were allowed to buy the commodity at the rate of N195 per litre.

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Immediately, all the vehicles that entered the premises bought petrol and left, the metre was adjusted to N500 per litre. Many vehicle owners that could not afford the new price left, complaining that if the particular fuel station could adjust its metre to N500 per litre, the majority of other fuel stations would sell above N500.

The outlets owned by independent marketers have also stopped dispensing the commodity, saying they are waiting for an order from the above for metre adjustments for a new price regime.

A move around Ibadan showed that all tr major marketers that have been selling the product have pegged their price at N500 per litre.

The hike in the pump price of petrol has caused transport costs to skyrocket. The standard fare from Ojoo to Total Garden, which used to cost N200, now costs N500.