Federal Government Raises Petrol Pump Price To ₦143.80

The Nigeria Petroleum Products Pricing Regulatory Agency hasn Anounced a new price band of N140.80 to N143.80 per litre

for Premium Motor Spirit, also known as petrol

The PPPRA, in a circular dated July 1, 2020 to marketers, a sid, “After a review of the prevailing market fundamentals inh 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.

“All marketers are advised to operate within the indicative

prices as advised by the PPPRA.”

The agency had on May 31, 2020 announced a price band of

N121.50 to N123.50 per litre for the product.

Sources at the Abuja headquarters of the agency said the rise in petrol price for July was primarily due to the increase in

global crude oil prices, as PMS had been deregulated.