It appears the Federal Government may allow oil marketers to sell the Premium Motor Spirit above N145 per litre.

This was gathered in the meeting between the Minister of State for Petroleum, Dr. Ibe Kachikwu and the senate committee investigating the scarcity of fuel on Thursday.

The minister told the committee that the high rate of foreign exchange was responsible for the call by the marketers to increase the fuel price.

He noted that the naira must be around N240 to a dollar to maintain the current price, which is not feasible for now.