The Federal Government has elevated the pump price of Premium Motor Spirit, also known as petrol from N140.80 to N143.80 per litre.
In April, the Federal Government had announced a reduction of the petrol pump price to N123.50 per litre.
However, today Wednesday 1st July, The Petroleum Products Pricing Regulatory Agency (PPPRA) announced the increment in a statement issued by its Executive Secretary, Abdulkadir Saidu.
The statement read,
“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.”
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