Oil price war: No winner, no loser

Events in the last couple of weeks or probably months have centred
around unprecedented scarcity or non-availability of petrol in all
parts of the country.
This was followed by an official announcement that Premium Motor
Spirit, popularly called petrol, is to sell for a maximum of N145 per
liter.
Government said it could no longer afford to subsidize PMS.

Almost immediately, the queues disappeared from filling stations and
motorists could drive in and buy petrol though at a price well above
the former official price of N86.50 per litre.
While the scarcity lasted, the number of man-hours wasted as a result
of long queues in fuel stations is better imagined. Not only did the
nation lose man-hours, lives were also lost. Workers, who have not
been paid salaries for months, were compelled to purchase petrol at
exorbitant prices.
In Lagos, a litre of petrol sold for as much as N250 to N300 a litre.
It got to a point that people were willing to buy even at higher
prices out of desperation but the product was not available.

Unlike previous occasions when we had to bear the pain of long queues
and non-availability of petrol , this time , marketers exhibited so
much impunity that one would ask if, indeed, there was a government in
place. Marketers took prices to the roof without any significant check
on them.
At this time of pain, no one , no organization spoke for the people.

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