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Petrol Price Drops To N130

The price of petrol has 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.

The PUNCH learned that 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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Written by PH

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