Residents of Ebonyi on Tuesday decried the high cost of petrol in the country.

In separate interviews, the residents in Abakaliki spoke about the fuel subsidy removal as the pump price rose to N1,200. 

Darlington Okeke, a resident, said panic buying was occasioned by the announcement by President Bola Tinubu, during his inaugural speech, of an end to the subsidy regime.

Mr Okeke stated that a pump fuel price in filling stations was sold between N800 and N1,200, against N230.

Another resident, Ibrahim Ali, said that black marketers sold a litre of fuel for N1,500.

Mr Ali said the development was causing panic buying and frustration among residents.

He appealed to President Tinubu to address the situation to mitigate panic buying and arbitrary hoarding of the products, which marketers introduced after the announcement from the president.

Meanwhile, staff of some filling stations visited alleged that management of the Petroleum Dealers Association, Ebonyi chapter, had ordered the closure of fuel stations. 

“We are waiting for further directives,” they said.

Efforts to speak with the state chairman of the association, Sailas Njaka, over the development were unsuccessful.

(NAN)