Oil marketers have assured Nigerians of a significant reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol, with expectations that the pump price will drastically decrease in the near future.
This development is attributed to the Federal Government‘s continued implementation of the crude and refined product sales in naira initiative.
Marketers revealed that the move would alleviate the pressure on fuel prices, with additional support expected from Dangote Refinery, which is anticipated to lower its petrol loading costs by the end of the week. This is expected to contribute further to the reduction of petrol prices across the country.