By, Omowumi Hannah, Ibadan.

Premium Motor Spirit, PMS, now sells for between N1288 and N1289 per litre at filling stations within Ibadan metropolis, down from between N1300 to N1350 five months ago.

A check by our reporter, Omowumi Hannah on Wednesday, showed filling stations along Lagos-Ibadan Expressway and New Garage are dispensing at N1288, while remote areas still sell at nearly N1500.

Some of the filling stations including
Total, AA Rano, Rainoil, NIPCO, and MRS sell at N1288 , while others dispense at N1289.

Recall, the reduction follows a ceasefire deal between the US and Iran on Sunday and the reopening of the Strait of Hormuz, which eased global crude oil prices.

Commercial motorists said the drop has not reflected in transport fares or prices of food, household items and spare parts.

“The fuel price is down but transport fare is still the same. House rent, food, everything is still high,” a commercial driver, who gave his name as Ayo Omotosho, said.

Residents including Azeez Olanrewaju and Fisayo Adegboyega urged public transporters to reduce fares to give residents some reliefs.

Speaking, Oyo State Chairman of PENGASSAN/TUC, Comrade Bosun Olabiyi-Agoro, called on government to suspend workers’ taxes temporarily and increase crude allocation to local refineries to boost supply.

Chairman of Commercial Motorcyclists and Tricyclists in Oyo State, Dr Solomon Olugbode, urged government to fix bad roads and strengthen local auto assembly plants for cheaper spare parts.

Despite the about N64 reduction nationwide, analysts said President Bola Tinubu’s government would earn more praise if PMS falls to N500. They also called for a probe of NNPCL’s distribution system to allow fair competition in the sector.