FG retains N125/litre petrol price despite crude oil crash

Forums Daily News FG retains N125/litre petrol price despite crude oil crash

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    The Federal Government has failed to review the N123.5 to N125/litre pump price of petrol for the month of May 2020 despite continued crash of crude oil price.

    The Petroleum Products Pricing Regulatory Agency had stated that the cost of petrol would be reviewed monthly in accordance with the fluctuation of crude oil price in the international market.

    “What we have in place is a market reflective pricing system. Petroleum products prices will be adjusted in line with market realities and the result is what we see presently with prices on the downward slide,”the PPPRA’s Executive Secretary, Abdulkadir Saidu, said recently.

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