FG Increases Petrol Pump Price To N143.80 » Gisthour
The Petroleum Products Pricing Regulatory Agency has introduced a brand new value band of N140.80 to N143.80 per litre for Premium Motor Spirit, also called petrol.
Sources on the Abuja headquarters of the company stated the rise in petrol value was primarily because of the enhance in world crude oil costs.
A round launched on Wednesday July 1, from the PPPRA to entrepreneurs reads;
“After a evaluate of the prevailing market fundamentals within the month of June and contemplating entrepreneurs’ real looking working prices, as a lot as practicable, we want to advise a brand new PMS pump value band of N140.80-N143.80 per litre for the month of July 2020.
All entrepreneurs are suggested to function inside the indicative costs as suggested by the PPPRA.”
The federal authorities, in March, introduced that the retail value of petrol can be adjusted month-to-month to mirror realities within the world crude oil market. On May 31, 2020, the PPPRA introduced a value band of N121.50 to N123.50 per litre for the product.
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