Okechukwu NnodimThe cost of petrol in the pricing template that is currently being reviewed will be determined by the rate of foreign exchange, oil marketers have said. On Friday, the Federal Government announced that it had commenced a review of the pricing template for petrol and insisted that the commodity would sell at N145 per litre. However, oil marketers on Saturday, said the Federal Government could retain the cost of petrol at N145/litre after reviewing the pricing template, but outlined the conditions that will make this feasible for importers of petrol. “So if the government can give forex to marketers, then automatically marketers can be able to sell at the rate of N145/litre. “But the truth is that as it is now, marketers cannot import petrol because of the cost of the commodity in the international market and the high forex rate.

Source: Punch January 07, 2018 01:06 UTC