The Federal Government may have directed the reduction in the petrol price from N145 per litre 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 petrol price following the crash in crude oil prices in the international market.
It was learned that the government may have approved the new petrol 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 on the petrol price reduction.
