There will be no increase in the price of Premium Motor Spirit, also known as petrol, in the month of June, the Federal Government has assured Nigerians.
The Minister of State for Petroleum Resources, Mr Timipre Sylva, gave the assurance in a statement on Friday in Abuja, the Federal Capital Territory.
Will there be a drop anytime soon?
He noted that while the decision of the government was in contradiction to the present situation in the petroleum markets, it remained committed to its engagement with the organised labour.
“Once again, it has become necessary to assure Nigerians that despite the huge burden of under-recovery, the Federal Government is not in a hurry to increase the price of Premium Motor Spirit (petrol) to reflect the current market realities.
“The current price of petrol will be retained in the month of June until the ongoing engagement with organised labour is concluded,” the minister stated.