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  • Business - Companies
  • Updated: August 20, 2022

Fuel Hike: Motorists, Traders Share Tales Of Woe

Fuel Hike: Motorists, Traders Share Tales Of Woe

It is public knowledge that the price of Premium Motor Spirit (PMS) also known as Petrol now ranges from N170 per litre to N200 per litre across filling stations in the country.

The hike in the price of fuel has increased the prices of transportation, cost of living, goods and services.

A market survey carried out in Agbado Market, Lagos by AllNews Nigeria has revealed that the increase in foodstuff prices can be attributed to the hike in fuel prices.

Temitayo Diyaolu, a businesswoman who sells consumer goods, lamented the cost of transporting goods from point of purchase to her shop.

“Before now, I used to spend N3,000 transporting 10 bags of rice, but since there has been an increase in fuel price, the cost of transporting the goods has also increased.

“Now, I spend almost N6,000 transporting the same quantity of rice, which will eventually increase the price we sell to customers.

“Even before the hike in fuel price, a basket of tomatoes was N15,000, but it is now N28,000 which is as a result of the increase in fuel price,” Diyaolu said.

Also speaking, a motorist, Moruf Anifowose said since the increase in the price of fuel, transportation cost has also increased and commuters are not ready to abide by the new prices, thereby leading to a loss on his part because this has led to a decrease in the number of trips.

“The increase in fuel price has affected my business negatively because it has led to an increase in transportation cost, and people are not willing to pay. 

“As a result, the number of my trips has reduced, which is a loss on my part.

“Sometimes I’ll have to patronise the black market at a very high cost which also leads to a corresponding higher transportation cost.”

On his part, Tosin Oladimeji, a commuter, also decried the high cost of transportation.

“Personally, I have experienced a serious increase in transportation fare in the past few months as a result of the hike in the price of petrol.

“For instance, a journey of fewer than 20 kilometres now attracts almost a hundred per cent increase and this is not a joke for me as a salary earner.

“A place like Iyana Iworo to Lekki which was previously N200 is now N300 and sometimes N400.

“Before the increase in fuel price, I used to spend N1,900 on transport, but now, I spend N3,200 on transport.

Speaking on how he has been coping with the increased transportation cost, he said he now has to trek some distance to get a cheaper ride and sometimes wake up as early as 4:00 am to meet up with BRT

“As a result, I will have to wake up as early as 4:00 am to meet up with BRT, or to see if I could get a driver who is humane enough to call a fair fare, which sometimes causes lateness to work.

“Sometimes, I simply split my journey by trekking some distance, which is what I do to cut the cost and simply meet up with my transportation budget for the month,” Oladimeji said.

Jibola Afolabi, a barber, also said the increase in the price of fuel has also led to an increase in the amount he charges customers as he lamented how terrible it has been coping with the increase in fuel price.

“Sometimes I go as far as Ogun State to get fuel from Lagos.

“As a barber, I can’t depend on the power supply because customers can come in at any time.

“At the end of the day, this will eventually lead to an increase in hair cuts, which customers are not willing to pay.”

Bolu, a businessman who owns a cybercafe, also shared his worries over the increased fuel cost, saying, “Due to the poor power supply in my area, I have to use the generator most of the time.

“Therefore, I have no choice but to buy petrol irrespective of the price, which has also led to an increase in the price of my service.

“Sadly, even with the increased price of petrol, my customers are not ready to pay, which has made me lose a lot of customers.”

However, Ololade, the Manager, Rainoil Energy located at Alakuko Road, Mao junction, Agbado, Lagos said the increase in fuel price is not from the management of filling stations but the Federal Government.

He added that owners of filling stations have also been affected by the increase as it has also decreased their profit as well.

“A lot of people think the increase in petrol price is from us.

“Well, this is not our fault because we act on the directive of the Federal Government, and we are also affected by the increase in fuel price too because it has also reduced our profit compared to when we sell at a cheaper rate,” Ololade said.

 

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