Wednesday, 18 March 2020

Breaking :Why FG Reduced Petrol Price To N130 Per Litre

The price of petrol has been dropped to N130 from N145, according to an approval given by President Muhammadu Buhari.

This followed a presentation the Minister of State, Petroleum, Mr Timipre Sylva, made to the Federal Executive Council on Wednesday.

It was learnt the development is a fallout of the crash in crude oil price due to the spread of Coronavirus.

Oil sells for about $29 per barrel, dropping from about $60 in December.

Sylva had hinted last week that the government was consulting on whether to cut the pump price of petrol and would come up with a decision soon.

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