Many fuel stations are yet to comply with the directive of the presidency to reduce the pump price of Premium Motor Spirit (PMS), Grassroots.ng can report.
The Federal Government on Tuesday had approved the reduction of the pump price of petrol from N145 to N125 per, liter. The reduction is a direct effect of the crash in global crude oil prices and sadly some of the fuel stations are yet to sell at the newly approved price.
Grassroots.ng visited three of the fuel stations in Ilasamaja, Lagos and noticed that nothing has changed yet with rregards to the price of petrol.
“Very soon we would start selling at the newly approved rate, it is not just yet time,” an attendant in one of the fuel stations said. It was gathered that these fuel stations had a large quantity of unsold petrol and are likely to sell-off at the old price.
Ironically, if the Federal Government had increased the price of petrol, these fuel stations would instantly sell at the price.
Another aattendant said: “We just need to finish selling out the one we have before selling at the price. We are likely to run at a loss if we do otherwise.