The Federal Government has explained the rationale behind the recent increase in the pump price of Premium Motor Spirit (PMS), also known as petrol. Mr Timipre Sylva, the Minister of State for Petroleum Resources, said the hike is as a result of the announcement by an American pharmaceutical company, Pfizer, on its recent breakthrough in the fight against the coronavirus (COVID-19) pandemic. He told State House correspondents on Monday in Abuja that the announcement of a COVID-19 vaccine by Pfizer triggered a slight increase in the price of crude oil in the global market. “What happened recently was because of