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Sunday, December 29, 2024

Residents Decry Rising Cost of Living Amid Fuel Price Reduction

BY JUMAI NWACHUKWU

Residents of Delta State are voicing deep frustration over the rising cost of transportation and food, despite the recent reduction in fuel prices.

The discontent echoes across different people as many struggle to reconcile the disparity between the federal government’s actions and the realities on the ground.

A quick survey reveals that transport fares remain stubbornly high, with commuters paying as much as 30 per cent more than usual for once-affordable routes.

Meanwhile, market prices for staple foods like rice, yam, and garri continue to soar, pushing many households to the brink of financial strain.

The Pointer spoke to a resident in Okpanam, Mr Chinedu Oghene who noted that the fuel price reduction would bring some relief, but things have only gotten worse.  “Transport costs haven’t gone down, and when you get to the market, it’s as if traders are competing to see who can charge the highest,” he said.

Similarly, another respondent who simply identified herself as Mrs. Juliet expressed her frustration with the federal government, stating, “The government is not taking action when it comes to regulations. They increase the prices of fuel, and when they reduce them, they fail to send regulatory bodies to ensure compliance in the markets.”

Speaking with Mrs. Rashida Yakubu, she commended the government’s efforts in reducing fuel prices during the yuletide but questioned how long the reduction would last.

Mrs Yakubu noted that despite the lower fuel prices, the cost of goods in the market remains high, and transportation fares are even worse. She explained that drivers often justify the persistent hikes by saying, “What goes up doesn’t come down.” She attributed this to the lack of effective regulatory bodies to monitor and enforce compliance within the system.

Meanwhile, speaking with a trader in the market,  Mrs. Mary Idoko also argue that their hands were tied, pointing to increased costs of logistics and the unstable exchange rate as reasons for the price hikes. “Even if fuel is reduced, the cost of transporting goods from the north has not changed,” she said.

On the other hand, a transporter, Mr Okoro, in Asaba, blamed the persistent high costs on the ripple effects of the earlier fuel hike. “The reduction in fuel prices is not enough to offset the inflation caused by the previous increases.” “Spare parts, vehicle maintenance, and other operational costs have all gone up, and we’re still feeling the impact.”

However, a teacher in Asaba, Miss Grace Agbani, has urged the government to go beyond fuel price adjustments and tackle the broader economic challenges. “It’s not just about fuel prices; we need holistic solutions”, she added.

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