By BusinessNews Staff

A fresh increase in the pump price of Premium Motor Spirit (petrol) may be imminent following the latest rise in the global oil prices, which has pushed the cost of petroleum products up.


And should the Federal Government retain the current prices of fuel, the nation may witness the return of subsidy on the product.

The landing cost of the product stood at N71.49 per litre as of March 18, up from N56.97 per litre on February 12, the latest data from the Petroleum Product Pricing Regulatory Agency showed. This cost of the product was a little less than N86 per litre.

The Federal Government had in December reviewed the pricing template of the PMS to make it sensitive to the price of crude oil in what the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, called price modulation.

The review of the template in December led to a slight reduction in the pump price of petrol from N87 per litre to N86 (for the NNPC stations) and N86.5 (for others).

As of the time of the review, the global oil benchmark, Brent, was trading around $36 per barrel and fell below the $30 per barrel mark in January this year.

On March 18, Brent ........

Read more@http://www.nairausd.com/2016/03/high-oil-cost-raises-fears-of-petrol.html?m=1

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Since when Nigerians voted change almost everything became inconclusive.

with the any things are going Buhari too would soon see the need to give GEJ an award for good governance.
If you are in support say I

Acjohn:
with the any things are going Buhari too would soon see the need to give GEJ an award for good governance.
If you are in support say I

True talk

I am still waiting to see the other tribe take over Ojota freedom Square.......

Eboski:
I am still waiting to see the other tribe take over Ojota freedom Square.......

Guy you funny

ifyan:

Guy you funny

I am not funny...... fast forward to 2012.

we all knw buhari is a.......... u know the rest