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BREAKING: FG increases petrol pump price to N143.80

Akinwande Soji-Ojo by Akinwande Soji-Ojo
July 1, 2020
in News
Reading Time: 1 min read
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FG reduces petrol pump price to N121.50 per litre
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The Petroleum Products Pricing Regulatory Agency( PPPRA) has announced a new price band of between  N140.80 to N143.80 per litre for Premium Motor Spirit (PMS), also known as petrol.

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The PPPRA, in a circular addressed to marketers and  dated July 1, 2020, said, “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-N143.80 per litre for the month of July 2020.

“All marketers are advised to operate within the indicative prices as advised by the PPPRA.”

FeedWell

The agency had on May 31, 2020 announced a price band of N121.50 to N123.50 per litre for the product.

The rise in petrol price for the month of July may be due to the increase in global crude oil prices, as petrol had been deregulated.

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