Lagos: Panic Buying As Fear Of Petrol Pump Price Hike Grips Residents

The alleged increment in the price of petrol has seen Lagosians embark on panic fuel purchase as petrol station across the state are filled with vehicles and people who want to buy the product in jerrycans.

This may not be unconnected to the statement released by the National Petroleum Corporation, NNPC, the Petroleum Products Marketing Company, PPMC, which fixed the ex-depot price of Premium Motor Spirit, PMS, also known as petrol, at N138.62 per litre.

Some motorists who spoke on the development noted that there is panic buying because the Federal Government has not put in place the measures to fix the inconsistency in the petroleum pump price.

A motorist who spoke on the situation said, “We are not sure what could come up next and so, one has to prepare well for every eventuality that may occur.”

“I am a businessman and I cannot afford to look on, while my investments are always affected by unpredictable government policies. I need to fill my tank, at least for the rest of the week and that is why I am here”