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FUEL PRICE HIKE: Black market retailers sell 1litre for #300 in Alimosho

A retailer appeared to have bought the fuel in large quantities weeks back, as she saw there may be a hike and subsequent scarcity later.
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Black market seller

AS the cost of fuel continues to surge with filing stations shutting down operations due to scarcity of products, black market sellers of petrol in the Alimosho LGA have 'intervened' and are now taking their businesses to the next level, as they have started selling fuel at #300 per litre, compared to the #200-220 sold at petrol stations.

We had earlier informed you that queues were witnessed this morning in Alimosho, following the hike and subsequent scarcity of fuel. Also, in that same report, we informed you that only about four out of the many stations along the Egbeda-Powerline route were dispensing products this morning.

ICYMI: FUEL PRICE HIKE: MORE FILLING STATIONS CLOSED, COMMUTERS EXPERIENCE HEAVY TRAFFIC ON ALIMOSHO ROADS

Meanwhile, a resident of Obadore, who was seen purchasing fuel from a black market retailer said she had no choice; according to her, it was either she bought it at #300 per litre, or spend #200 as transport fare to get to a station where she would eventually buy it at #220, even after standing for hours in a queue. 

It was learnt that the retailer, whose name could not be gotten, purchased the fuel from a nearby filling station in large quantities, some time ago, when products were still available, as she envisaged a scarcity.

The high cost of fuel has also taken its toll on business owners who rely on fuel to run their daily businesses, as they say, electrical power only comes sporadically.