Govt may increase petrol price soon – Marketers

08 May 2016, Abuja – The Federal Government may soon effect an upward review in the pump prices of Premium Motor Spirit, popularly known as petrol, oil marketers have said, attributing this to the recent increase in the cost of crude oil at the international market.

Crude oil price had fallen below $30 per barrel earlier this year, but as of May 2, 2016, the commodity’s cost rose to $45.83, according to data obtained from the Nigerian National Petroleum Corporation on Saturday in Abuja.

 

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