The Petroleum Products Pricing Regulatory Agency, PPPRA, has today announced a new pump price of petrol to be N151.56 per litre.
This new development was contained in a memo released by the Pipelines and Product Marketing Company and signed by D.O Abalaka.
The memo reads, “Please be informed that a new product price adjustment has been effected on our payment platform.
“To this end, the price of Premium Motor Spirit (PMS) is now one hundred and fifty-one naira, fifty-six kobo (N151.56k) per litre. This takes effect from September 2, 2020.”
Recall that in March, FG stated that the pump price of petrol would be determined by market forces, adding that how much Nigerians would pay would be largely determined by the international prices of crude oil.