The Department of Petroleum Resources (DPR) has advised motorists to desist from panic buying of Premium Motor Spirit (PMS) as the Nigerian National Petroleum Corporation (NNPC) had enough in stock.
Mr Victor Enilama, the Head of Downstream sector of DPR in Benin gave the advice while speaking to newsmen in Benin on Wednesday.
Enilama blamed the current crisis in the sector on racketeering by marketers, adding that the challenges would soon be checked.
He said that there was enough of the product at Oghara, Koko and Warri depots and the distribution chain of the product had not changed.
He attributed the current situation to greed on the part of the marketers, who sell above the government approved ex-depot price.
Enilama said the reasons adduced by most of the dealers that they bought the product at high cost from private depots was untenable.
“We have told them to come out with the receipts of evidence that they bought the product at such an amount.
“We have a coupon at each depot signed by a DPR official, representative of the depot owner and the person buying the product but none could produce evidence to that effect.
“This is the reason why we are working with the EFCC because racketeering is an economic sabotage. We are also monitoring the private depots in order to find those actually selling above the stipulated price.
“Besides, most of the stations close their gates to motorists only to open for business at night,” he said.
“Those caught in the act will be fined. We have a stipulated sanction for the offence.