BREAKING: FG Increases Petrol Pump Price

The agency had on June 1, 2020, reduced the petrol pump price from N123 to N121.50 per litre.

The new price was arrived at after extensive review of market realities by the PPMC internal price review unit / Photo credit: Businessday
The new price was arrived at after extensive review of market realities by the PPMC internal price review unit / Photo credit: Businessday

The Petroleum Product Pricing Regulatory Agency (PPPRA) has announced the increment of pump price of petrol from N121.50 to N140.80.

The agency had on June 1, 2020, reduced the petrol pump price from N123 to N121.50 per litre.

However, Abdulkadir Saidu the PPPRA Executive secretary in a statement on Wednesday announced an increment.

The statement reads, “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/litre for the month of July, 2020,” part of the circular read.”

This is development is coming not long after the PPPRA announced that it would no longer fix the pump price of Premium Motor Spirit (PMS) also known as petrol for marketers.

Written by The Interview Editors

The Interview is a niche publication, targeting leaders and aspiring leaders in business, politics, entertainment, sports, arts, the professions and others within society’s upper middle class and high-end segment in Nigeria.

The Statue of Liberty / nationsonline.org

One Month Of The American Spring

Kastina-based Kidnap don, Hamisu Bala / Photo credit: Punch.ng

Wadume: My Office Not Protecting Soldiers From Prosecution, Malami Replies Falana