TUE, APRIL 21 2020-theG&BJournal- There are indications that the Federal Government plans another downward review of the petrol prices given the increasing impact of the coronavirus and the continued perilous drop of global crude prices.
TheG&BJournal gathered that the review will entail a cut of about 1.2% m/m, due to lower global oil prices.
The review will be the third since the first review mid March 2020 and the second since April 1 when the petrol pump price was dropped down to N123/litre.
President Muhammadu Buhari first approved of the drops in March when he said Nigerians should benefit from the reduction in the price of PMS which is a direct effect of the crash in global oil price.
Brent crude is trading at -16.-03% to $21.47 currently, an 18 year low.
|twitter:@theGBJournal|email: info@govandbusinessjournal.com.ng|
