The Federal Government yesterday readjusted the pump price of Petrol from N121.50 to N143.80 per litre.
This was disclosed by Petroleum Products Pricing Regulatory Agency (PPPRA) in a circular dated Wednesday, July 1, 2020, to oil marketers.
Recall, the agency slashed the pump price of petrol, to N121.50 per litre for the month of June, cutting the price by N2 from N123.50 per litre it announced for May.
However, the new circular 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.
“Kindly note that the Ex-depot for Collection includes the statutory charges of Bridging Fund, Marine Transport Average, National Transport Allowance (NTA) and the Administrative Charge.
“All Marketers are advised to operate within the indicative prices as advised by the PPPRA,” the circular said.
