The Federal Government has increased petrol pump price from N123.80 per litre to N143.80.
This was announced in a circular relased by the Petroleum Products Pricing Regulatory Agency (PPPRA) on July 1, 2020 to marketers.
The agency had on May 31, 2020 announced a price band of N121.50 to N123.50 per litre for petrol.
The circular 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-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.”