As at 9pm yesterday, Brent crude which is the global benchmark, was trading at $34.88 per barrel.
This has resulted to a drop in the landing cost of petrol.
The Petroleum Products Pricing Regulatory Agency (PPPRA) gave the landing cost of petrol as N95.16 per litre as at Tuesday, with the expected open market price of petrol was N114.53 per litre.
“This is a developing issue. We are still consulting, we are still following it closely.
“Of course, usually, the product prices follow the crude oil price but we are still consulting, we’ll get back to you, please, be patient,” Sylva said. SHARE THIS NEWS USING ANY OF THE BUTTON BELOW PLACE YOUR TEXT ADVERT BELOW ⬇⬇⬇