The senate has agreed on $44.5 per barrel as benchmark price for the 2017 budget as against $42.5 per barrel earlier submitted by the executive.
The legislators also adopted the N305 to a dollar exchange rate as presented by the executive.
It asked the Central Bank of Nigeria to initiate measure to close the gap between the parallel market and official exchange rate.
Meanwhile due to hike in prices of kerosene and cooking gas, some Nigerians have resorted to the use of charcoal and fire wood
Respondents who spoke to STV news say the items have become a luxury for average income earners.  .