Local News

FG Increases Petrol Pump Price

The pump price of petrol was on June 1, 2020 reduced to N121.50 per litre from N123 per litre.

The Petroleum Products Pricing Regulatory Agency has increased the pump price of petrol to N140.80/143.80 per litre from the present N121.50 per litre.

The regulatory agency announced the new retail price band to marketers in a circular dated July 1, 2020 and signed by its Executive Secretary, Abdulkadir Saudi.

The pump price of petrol was on June 1, 2020 reduced to N121.50 per litre from N123 per litre.

“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,” part of the circular read.

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

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

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Victor Akande

Victor Akande, a blogger by profession for the past 7 years. He studied Mathematics at the University of Nigeria, Nsukka Contact: +2348053316946 Twitter: @Newsflash2471

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