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.

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.”