The Petroleum Products Pricing Regulatory Agency (PPRRA), has increased petrol pump price to N140.80/143.80 per litre from the present N121.50 per litre.
The agency made the announcement today July 1, to marketers in a circular signed by its Executive Secretary, Abdulkadir Saudi.
Recall that the pump price of petrol was on June 1, 2020 reduced to N121.50 per litre from N123 per litre.
Part of the circular read by the secretary of the agency read:
“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”.