A new pump price band of N121.50 to N123.50 per litre for Premium Motor Spirit also known as petrol has been announced by The Petroleum Products Pricing Regulatory Agency.
The Petroleum Products Pricing Regulatory Agency, which is an agency of the Federal Government, disclosed this in a circular to fuel marketers dated May 31, 2020.
The steep drop in crude oil prices which resulted from the spread of coronavirus saw the landing cost of petrol hitting a record low in March, wiping off subsidy on the product.
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The pump price of petrol, which is still being regulated by the Federal Government, was reduced to N125 per litre from N145 per litre on March 18, 2020, effective March 19.
The pump price of petrol, which is still being regulated by the Federal Government, was reduced to N125 per litre from N145 per litre on March 18, 2020, effective March 19.
he PPPRA further announced on March 31 a price band of N123.50 to N125 per litre, effective April 1.
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