By Dada Ahmed in Lokoja.
(C) Google.
The recent reduction in the pump price of petrol to ₦699 per litre by the Dangote Refinery is gradually reflecting in Lokoja, Kogi State and its environs, as drivers, particularly commercial operators,confirm purchasing the product at prices ranging between ₦820 and ₦915 per litre, down from ₦940 and above.
Our correspondent, who visited several filling stations along the Gadumo axis of Ganaja Road, the Secretariat, and Marine Road on Tuesday, observed growing acknowledgement among drivers of the downward review in petrol prices, as attendants sold the product to motorists at reduced rates.
However, operators of some filling stations that are still selling petrol at ₦940 per litre explained that they are yet to exhaust existing stock purchased at the previous price.
They assured that prices would be adjusted in line with the new pump price once the old stock is sold.
Some residents who spoke with The Reporters urged filling stations across the state to promptly adjust their pump prices in line with the recent reduction announced by the Dangote Refinery.
They expressed concern that the continued high pump prices have blunted the immediate economic impact of the reduction, noting that transport operators have largely maintained existing fares, thereby forcing commuters to bear the ongoing burden of high mobility costs.
According to them, the benefits of the price adjustment have yet to trickle down to consumers at the retail level, underscoring the need for stricter compliance by fuel marketers.
Residents and transport operators say they are closely monitoring developments for any further downward review in pump price of fuel in line with Dangote refiner’s price which they believe would stimulate economic activities, ease inflationary pressures, transport fare and improve disposable income within the local economy among other economic advantages.
