Gbenro Adesina
The Petroleum Product Pricing Regulatory Agency (PPPRA) has increased the retail pump price of petrol from the previous N121.50 per litre to N143. 80.
According to the Agency, in a letter signed by its Executive Secretary, filling stations are at liberty to sell petrol between N140.80 and N143.80.
The letter dated July 1, 2020, written by PPPRA to all petroleum products marketers, titled, “Advised Price for Premium Motor Spirit (PMS) in the month of July 2020”, the Agency stated, “After a review of the prevailing market fundamentals in the month of June and considering marketers’ realistic operating costs, as much as praticable, we wish to advise a new PMS pump price band of N140.80-N143.80/Litre, for the month of July, 2020.
The letter concluded, “All marketers are advised to operate within the indicative prices as advised by the PPPRA”.
