Some fuel stations across the country are yet to adhere with the order by the Minister of Petroleum Resources, Mrs Diezani Allison-Madueke, for a reduction with immediate effect on the pump price of the Premium Motor Spirit (PMS) popularly known as petrol from N97 to N87.
While some persons opined that the reduction was a welcome development, others maintained that it was part of political stunts for the general elections scheduled for February 14, 2015.
Meanwhile, some of the fuel stations visited by The Trent in the Isolo area of Lagos state today, Tuesday, January 20, 2015 are yet to comply with the directive as they still sold the PMS at the old price of N97 per litre.
When asked the reason behind their non-compliance, a pump attendant at MRS fuel station disclosed that they bought the petrol at the rate of N95 and would not sell below the cost price.
He said, “We cannot just reduce the price because they said we should. We will sell based on how we bought the fuel.
“We bought this stock last week and until it finishes, we cannot sell at N87 per litre.”
Although he assured that there would be full compliance by weekend as the old stock is expected to have finished by then.
About four other stations visited in the area still sold at the old price with similar view that they would not reduce the price until their old stock gets finished.