Nigerian Government Increases Petrol Pump Price

Nigerian Government Increases Petrol Pump Price

Nigerian Government Increases Petrol Pump Price

The regulatory agency announced the new retail price band to marketers in a circular dated July 1, 2020 and signed by its Executive Secretary, Abdulkadir Saudi.

The Petroleum Products Pricing Regulatory Agency has increased the pump price of petrol to N140.80/143.80 per litre from the present N121.50 per litre.

The regulatory agency announced the new retail price band to marketers in a circular dated July 1, 2020 and signed by its Executive Secretary, Abdulkadir Saudi. 

Source: Sahara Reporter

The pump price of petrol was on June 1, 2020 reduced to N121.50 per litre from N123 per litre.

“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 - 143.80/litre for the month of July, 2020,” part of the circular read. 

Source: Sahara Reporters