Why petrol prices may not come down soon — Lokpobiri

The Minister of State for Petroleum Resources, Heineken Lokpobiri, has warned that Nigerians may not see an immediate reduction in petrol prices, citing the impact of global energy markets and the ongoing crisis in the Middle East.
Lokpobiri explained that crude oil and petroleum products are traded in an international market, meaning developments outside Nigeria can directly affect domestic fuel prices.
He made the remarks during an interview on Channels Television’s Politics Today on Tuesday.
According to the minister, the continued instability in the Middle East could put further pressure on energy prices globally.
“Because of what is happening in the Middle East, it is expecte...