THE Petroleum Products Pricing Regulatory Agency on Wednesday, announced a new petrol pump price of N143.80 per litre.
PPPRA, had on May 31, 2020, announced N121.50 to N123.50 per litre for the product.
In a circular dated July 1, 2020 to marketers, PPPRA stated that increase was in consideration of marketers’ realistic operating cost.
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According to the statement, “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.”
