The Department of Petroleum Resources (DPR), has advised residents of Osogbo, Osun State against panic buying and hoarding of petroleum products during the Yuletide celebration.
The DPR also warned residents of the State against storing of petroleum products at home during the period.
The Operations Controller, DPR, Mr Benjamin Ogunnubi while sounding the warning, said there was no cause for panic buying, as the Federal Government had made adequate provision for availability of the products during the period and beyond.
He pointed out that hoarding of petroleum products at home may cause fire outbreak, adding that residents needed to be very careful with how they handle petroleum products, especially during the harmattan period.
Ogunnubi, however, charged the independent marketers against hoarding of the products in order to create artificial scarcity.
He hinted that the survelliance team of the oil and gas industry regulator would be all out during the Yuletide season to ensure free flow of the products in filing stations in the state.
“The department is pleading with people to shun panic buying and storage of petroleum products in their houses.
“We are in harmattan period, and storing of petroleum product at home can result in fire outbreak, which can lead to destruction of lives and properties.
“We have to be wise, there’s no reason for panic buying or hoarding of the product because we have enough of it in stock,” he said.
Ogunnubi urged consumers to report any sharp practices, in terms of under-dispensing, to the DPR for appropriate action.
He also pleaded with the petroleum product marketers to always comply with standard safety practices in their retail outlets.
Ogunnubi maintained that any marketer caught violating the standard procedure would be prosecuted according to the law of the land.