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Federal Government Set New Petrol Price

Federal Government Set New Petrol Price.

After the meeting between Minister of Labour and Employment, Chris Ngige and labour leaders which began at 9pm on Monday and ended at 1:30am on Tuesday, The Government reduced the petrol price from N168 per litre to N162.44 per litre effective from December 14, 2020.

Presently the price of petron is N168 per litre following the decision of the Petroleum Products Marketing Company, a subsidiary of the Federal Government to increase the ex-depot price of petrol from N147.67 per litre to N155.17 per litre in November.

The minister said a technical committee has been set up by the larger house to ensure price stability in the industry. Ngige stated that the committee, which will report back to
the lager house on the 25 of January next year, will be appraising the market forces and every other thing that will make for stability in the industry.

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