With petrol unavailable at the filling stations, taxi and Okada riders in Ondo State have turned to the black market for the product

Prime Motor Spirit, also known as petrol, is now selling at N700 per litre at unofficial sale points in Akure and neighboring towns in Ondo State, as the scarcity of the product bites residents and travellers harder.

Most of the major marketers were not selling the product as of Tuesday night as independent marketers were alleged to be hoarding or routing sales through the unofficial points where prices are arbitarily fixed.

PREMIUM TIMES investigation revealed that filling stations on the outskirts of Akure were selling at N500 per litre on Saturday, with motorists scrambling to buy even at the price.

A fuel station at Oda town did a quick sale in the early hours of Monday, selling at N450 per litre, but stopped selling after claiming that its stock was exhausted as the crowd became overwhelming.

With the product not available at the filling stations, taxi and Okada riders have turned to the black market to access the product.

Seyi Moyinoluwa, a Keke (tricycle) driver, said he bought the product at the black market and pass the extra cost on to his commuters.

The cost of fuel had also increased transport fares across the city, pushing fares up by over 100 around the state.

A black market operator who would refused to give his name said he bought the product from a filling station at N500 under very difficult circumstances.

"If I tell you how I got the fuel, you will pity me," he said. "That is why I cannot sell less than N700. Yesterday, we even sold N800 per litre. We are suffering and we can only blame the government."

Fuel queues have persisted in filling stations across the country in the last two weeks, including Lagos and Abuja, even though citizens are yet to be told the real cause of the problem.

The NNPC had blamed the surge in queues in Lagos and Abuja on ongoing "road infrastructure projects" around Apapa and access road challenges in some parts of Lagos depots.

But fuel marketers say it was caused by high prices imposed by fuel depot owners who store the product for the NNPC.

The scarcity has also assumed a political dimension with a presidential candidate alleging that a fifth columnists at the presidency created an artificial scarcity to frustrate his presidential bid.