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.