Oluwapelumi Fasoyin
The Petroleum Products Pricing Regulatory Agency has announced a new pump price of N140.80 to N143.80 per litre for Premium Motor Spirit, also known as petrol.
The regulatory agency disclosed the new retail price band to marketers in a circular dated July 1, 2020 and signed by its Executive Secretary, Abdulkadir Saudi.
The PPPRA, in a circular dated July 1, 2020 to marketers, said, “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.”
The agency had on May 31, 2020 announced a price band of N121.50 to N123.50 per litre for the product.
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