Kachikwu who made the prediction in a podcast message to mark his two years in office, did not give the likely price the vital product would be sold.
According to him, the forecast springs from what he described as the competition inherent in the PMS price modulation.
The minister said the price of diesel, which is now 40 per cent lower that what hitherto obtained, amid surplus supply, was enough evidence that petrol prices will also crash.
He said: “once Nigerians throw their trading skill in it, once competition thrives, the prices will continue to tumble.
“My guess is that you will see the prices tumble in the next four, five to six months. The market will be more stable and definitely the prices will be lower than what we see today.”
On the refining capacibility of the nation’s refineries, Kachikwu this was the first time the three refineries would be working simultaneously, although at 50 per cent of their capacity, in the last 10 years.
“We expect to put in investment to put them to 90 per cent capacity,” he said.
According to Kachikwu, this his tenure was also the first time the NNPC Group has recorded savings, which could be used to fix the refineries in collaboration with its Joint Venture partners.
The Minister further noted that this was the first time the government upgraded the nation’s depots, adding that out of 19, only three are grounded currently. RECEIVE NEWS UPDATE ON: WHATSAPP +234 701 056 0394, AND TWITTER: @247NGNEWSUPDATE, EMAIL: INFO@247NIGERIANEWSUPDATE.CO FOR INSTANT UPDATES ON INSTAGRAM CLICK HERE Share your story with us: firstname.lastname@example.org PLACE YOUR TEXT ADVERT BELOW:>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>