FG Increases Petroleum Pump Price
The Petroleum Products Pricing Regulatory Agency (PPPRA) has increased the pump price of petrol to N140.80/143.80 per litre from N121.50 per litre.
PPPRA announced the new retail price band to marketers in a circular dated July 1, 2020.
The circular was signed by its Executive Secretary, Abdulkadir Saudi.
“After a review of the prevailing market fundamentals in the month of June and considering marketers’ realistic operating costs, as much as practicable, we wish to advise a new PMS pump price band of N140.80 – 143.80/litre for the month of July, 2020,” circular read in parts.
The pump price of petrol was on June 1, 2020 reduced to N121.50 per litre from N123 per litre.