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  • News - South West - Osun
  • Updated: April 28, 2024

Artificial scarcity: Osun govt warns marketers against PMS hoarding

Artificial scarcity: Osun govt warns marketers against PMS h

The Osun State government Taskforce on Petroleum Price Monitoring has warned owners of petrol stations across the state against hoarding petroleum products to create artificial scarcity.

The warning was issued in a statement by the taskforce Chairman and the Chief of Staff to the State Governor, Kazeem Akinleye on Sunday in Osogbo.

Akinleye noted that the taskforce surveillance across the state revealed that most filling stations were hoarding petrol products, thereby worsening the fuel supply situation in the state.

"Surveillance activities were conducted in major towns and the state capital in the last three days and that it revealed deliberate hoarding of fuel to create artificial scarcity.

"The Taskforce consequently issues strong warning to affected filling stations which are already listed as direct culprits to open up their tanks and dispense fuel to the members of the public."

While urging marketers to be public spirited in their pricing of petroleum products, the taskforce reminded them of the already harsh economic situation on the members of the public.

"Failure to stop the fuel hoarding and take humanitarian notice of prevailing economic situation in the country will lead to severe sanctions," the statement warned.

The warning is coming after reported cases of hike in pump price of Premium Motor Spirit, PMS also known and petrol and resurgence of long queues in filling stations in some parts of the country.

In some states, the pump price of PMS had gone up to between N700 to N750 per litre

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