Fuel price stands at N162/litre in June, govt assures
By Abimbola Abdullahi
The Federal Government has assured that it would retain the pump price of Premium Motor Spirit (PMS) otherwise called petrol at N162 per litre in June.
This is coming few days after the state governors approved increase in pump price due to overwhelming subsidy payments.
The Minister of State for Petroleum Resources, Timipre Sylva said that despite the huge burden of under-recovery, the Federal Government was not in a hurry to increase the price of petrol.
He said in a statement Friday that: “The current price of petrol will be retained in the month of June until the ongoing engagement with organized labour is concluded.
“This clarification becomes necessary in the light of recent reports regarding the resolution of the Nigeria Governors Forum to increase the pump price of petrol,” Sylva said.
He urged petroleum products marketers not to engage in any activity that could jeopardize the seamless supply and distribution system in in the country.
The minister enjoined members of the public to avoid panic buying, noting that the Nigerian National Petroleum Corporation (NNPC) has enough stock of petroleum products to keep the nation wet.
