The Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has predicted that the cost of premium motor spirit also known as petrol will continue to decline until June 2025.
Both Dangote Refinery and the Nigeria National Petroluem Company Limited (NNPCL) have crashed the cost of the essential commodity in recent weeks, easing the pressure on millions of Nigerians who depend on fuel for their energy needs.
But Rewane says the recent reduction in the pump price of the product is expected to continue until mid-year.
“So, generally between now and June, we will see prices begin to decline. But after June as things stabilize, depending on what happens in the global oil and currency market, we might begin to see some stabilisation,” Rewane said on Tuesday’s edition of Channels Television’s Business Morning show.
