Amid speculations that the Federal Government would announce a hike in prices of petroleum products, effective 1 November, under its programme of deregulation of the downstream sector of the petroleum industry, fuel scarcity, which was noticeable during the weekend in Lagos, is spreading like a wild fire in many states of the federation.

Reports from our correspondents who went round Lagos metropolis this morning indicated that the scarcity, which was first noticed in Lagos on Friday evening, is gradually abating, as many filling stations were dispensing fuel.

Many of the filling stations visited in Lagos this morning by P.MNEWS reporters were seen dispensing fuel at the rate of N100 per litre. Most of the stations have adjusted their pumps accordingly. Only one filling station along the Lagos/Ibadan expressway was seen selling at the official rate of N65 per litre of petrol.

Some commuter bus operators on interstate routes have increased fares by over 50 per cent in the wake of the fuel scarcity. A trip from Lagos to Ibadan for example that previously attracted N500 now costs N800.

The scarcity is worsening in other states of the federation. Reports from Enugu, Kaduna, Abuja and some states indicate that there are long queues at filling stations that have the product while others are not selling the product at all.

For three days running now, scarcity of petrol has persisted in Kaduna. This has resulted in endless queues at almost all the filling stations within the metropolis and other parts of the states.

A visit by correspondent to Kaduna Refining and Petro-Chemical Company, KRPC, a subsidiary of NNPC, to confirm the reasons for the scarcity, despite having a refining company operating in the state, did not yield any result.

A source identified panic buying and hoarding by some marketers as the reasons for the scarcity in the state, adding that since the issue of deregulating the petroleum sector became rife, scarcity of fuel and queues returned to some parts of the country and that it has gradually become a feature in all the filling stations.

The information gathered from the Department of petroleum Resource, DPR was not different from that of KRPC.

Vehicle owners, drivers and commuters, who are the most hit, have continued to suffer untold hardships since scarcity resurfaced in the state. They expressed displeasure over the exorbitant price of petrol.

At filling stations visited by correspondents this morning, a litre of petrol was being sold for between N90 and N120 within the metropolis. While outside Kaduna like Zaria and Kafanchan areas, it was selling for between N150 and N200.

Meanwhile, black marketers are making brisk business as they have capitalised on the short supply of petrol to most filling stations to hike their prices. A four litre gallon that was sold for N300 before the scarcity now sells for between N1,000 and N1,500.

Transport fares have gone up by almost 100 per cent. A distance by bus that used to cost about N50 is now N100 or more, depending on the distance.

Consequently, workers, traders and students now trek part of their way to reduce cost of transport.

As expected, the high cost of petroleum products, which has brought about hike in transport fares, is affecting the cost of food across the country.

Despite the closure of filling stations in Enugu, there are vehicular movement in the capital city.

An investigation by P.MNEWS across the state capital showed that only a few independent marketers along Presidential Road were selling fuel at the pump price of N80 this morning. Most of the attendants approached declined to comment. They only said “Oga, no fuel, Oga no fuel.”

However, investigations revealed that most of the fuel stations have fuel but were awaiting the new price increase to be effected before they sell the product.

Expectedly, the fuel scarcity has attracted a sharp increase in transport fare within the metropolis and the hinterland.

Most car owners have parked their cars at home to watch the unfolding scenario.