Prices Of Gas, Petrol Crash In Enugu

The prices of cooking gas and petrol popularly know as Premium Motor Spirit(PMS) have crashed in different parts of Enugu.

Our exclusive investigations revealed that almost all independent petroleum marketers are selling fuel below N1,000 while a kilogram of gas, which was sold at between N1,350 and N1,400, is now being sold at N1,250.

The development has led to reduction in the prices of some food items like beans and garri.
Surprisingly, commercial drivers have refused to reduce transport fares in the state, a development that has continued to attract criticisms from the masses.

An economist, Mr Obinna Ugwu who spoke to our correspondent in an exclusive interview said the reduction in the prices of cooking gas and petrol would soon mount pressure on the prices of other items to go down.

He described oil as a major player in the economy of the country, saying when the pump prices of crude oil products go down, the prices of other products may likely be forced to go down.

A resident of Maryland, Mr Ikenna Ogbonna, who spoke to our correspondent, expressed happiness over the reduction in the prices of petrol and gas in the state.

He stated that the development has led to a reduction in the hardship they have been facing and called on commercial drivers to appreciate the gesture and reduce transport fares.

Some of the marketers who spoke to our correspondent explained that the price of petroleum and cooking gas can be affected by supply and demand, government interventions, and market forces.