The Federal Government says the pump price of petrol will remain at one hundred and sixty-two naira.
The revelation followed fears about possible increase in the price of petrol following the signing of the Petroleum Industry Act into law.
The Minister of State for Petroleum Resources, Timipre Sylva, said a new pump price of petrol would be based on an agreement with the organised labour.
Sylva, who was speaking at a news conference in Abuja, said that Petroleum Industry Act has made it possible to deregulate the oil and gas sector.