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FG Increases Petrol Price To N143 Per Liter

FG Increases Petrol Price To N143 Per Liter

The Federal Government of Nigeria has on Wednesday 2nd July 2020, made a little adjustment in the petrol price(PMS) to N143.80 per liter.

This was made public by The Petroleum Products Pricing Regulatory Agency (PPPRA) in a statement issued by its executive secretary, Abdulkadir Saidu on Wednesday.

Recall that the Federal Government through the PPPRA announced a reduction in Petrol(PMS)from N145 to N123.50 per liter sometime in April.

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Although the PPPRA did not disclose concrete reasons for her action, it has also advised all marketers to adopt the new Petrol Price.

The Statement Reads in Part:

“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 liter for the month of July 2020,” the statement read.

“All marketers are advised to operate within the indicative prices as advised by the PPPRA.”

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