BREAKING: FG ANNOUNCE INCREASE IN PETROL PRICE AMID CORONAVIRUS
As Nigerians try to recover from the economic downturn caused by the Coronavirus, the Federal Government has announced an increase in the pump price of petrol from N140.80 to N143.80 per litre.
The Petroleum Products Pricing Regulatory Agency (PPPRA) announced the increment in a statement issued by its Executive Secretary, Abdulkadir Saidu on Wednesday, July 1.
“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,” the statement read.
“All marketers are advised to operate within the indicative prices as advised by the PPPRA.”
This is coming a month after the Petroleum regulating agency instructed marketers to sell PMS between a price band of N121.50 and N123.50.