A litre of Premium Motor Spirit also known as petrol currently sells at between N150 and N180 per litre in Yenagoa, the capital of Bayelsa State, Independent Newspaper has learnt.
This is in spite of assurances in the last few weeks by the Minister of State for Petroleum Ibe Kachikwu that the Federal Government would flood the states with fuel.
Independent petroleum marketers in Bayelsa have continued to sell the product at astronomical prices instead of the Federal Government approved pump price of N86.50k.
They also engage in other sharp practices despite claims by the Department of Petroleum Resources (DPR) in the state that it had sanctioned some defaulting filling stations.
A number of the filling stations had been discovered to be shortchanging customers through under-dispensing and product hoarding.
Investigation on Monday showed that some NNPC-affiliate retail outlets are also engaging in sharp practices including hoarding of the product.
Some of the independent petroleum dealers open for business only at night and sell petrol to black market operators who make brisk business selling a 10 litre jerrycan of the product at between N2,000 and N2,500.
Only the NNPC Mega filling station along the Sani Abacha Expressway is dispensing fuel at N86 per litre, which has resulted in traffic gridlock on the road as hundreds of consumers want to buy from them.
Consistent threats by the DPR and even the Nigeria Security and Civil Defence Corps (NSCDC) to deal with defaulting oil marketers had not been backed with action.
When asked why the DPR had not arrested and paraded defaulting oil marketers for sabotaging the government, the agency’s Operations Controller in the state,Antai Asuquo, declined comments.