The Federal Government may have directed the reduction in the pump price of Premium Motor Spirit (PMS) from N145 per liter to about N130.
Minister of State for Petroleum Resources, Timipre Sylva, had last week said the government was in consultation with relevant stakeholders on the possibility of reducing the price following the crash in crude oil prices in the international market.
It was learned that the government may have approved the new price after a presentation by Sylva to the ongoing meeting of the Federal Executive Council (FEC) being presided over by President Muhammadu Buhari at the presidential villa, Abuja.
More to come.
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