Diri warns fuel marketers against hoarding, profiteering as price hits N600

Gov. Douye Diri of Bayelsa has warned oil marketers in the state against hoarding and profiteering on Premium Motor Spirit (PMS), commonly known as petrol.

Our correspondent reports that the warning is sequel to the sudden hike by fuel marketers of PMS to N600 per litre, following President Bola Tinubu’s pronouncement in his inaugural address that fuel subsidy was gone.

Diri, in a statement issued by his Chief Press Secretary, Mr Daniel Alabrah, warned that his administration would take stern measures against any filling station that flouted the directive.

He said the state government had received reports that some filling stations in the state capital had hiked the pump price of petrol above the usual price of between N193 and N250 per litre to N500 per litre and above.

“Marketers in the state are said to have reacted to the pronouncement of President Bola Tinubu during his inauguration on Monday that the Federal Government subsidy on petrol is gone.

“The Presidency, however, issued a clarification statement on Tuesday that the removal of the subsidy was yet to take effect,” the statement read in part.

The governor said it was wicked for oil marketers to swiftly seek to profiteer at the detriment of the people following a mere pronouncement that had not taken effect.

Diri noted that the pump price of petrol is a significant determinant of the cost of goods and services in the country.

The governor assured that his administration would not allow the people of Bayelsa to suffer undue hardship from the profiteering activities of some greedy businessmen.

Diri said he had directed the state Ministry of Mineral Resources and the petroleum task force in the state to shut any filling station hoarding the product or caught selling above the usual pump price.

He said: “I have directed the relevant Ministry and the state’s task force on petroleum to ensure that all filling stations sell petrol within the usual price range.

“I have equally directed that any filling station that flouts this directive or fails to revert to the usual price be shut down. We will take further stern measures against any station that defaults.

“This directive takes immediate effect,” Diri said.