In News by Oluwaseun Samuel on the 01st, July, 2020

FG Will increase Petrol Pump Worth To N143.80

FG Increases Petrol Pump Price To N143.80


FG Will increase Petrol Pump Worth To N143.80

The Petroleum Merchandise Pricing Regulatory Company has introduced a brand new worth band of N140.80 to N143.80 per litre for Premium Motor Spirit, also called petrol.

Sources on the Abuja headquarters of the company mentioned the rise in petrol worth was primarily as a result of improve in world crude oil costs.

A round launched on Wednesday July 1, from the PPPRA to entrepreneurs reads;

“After a overview of the prevailing market fundamentals within the month of June and contemplating entrepreneurs’ lifelike working prices, as a lot as practicable, we want to advise a brand new PMS pump worth band of N140.80-N143.80 per litre for the month of July 2020.

All entrepreneurs are suggested to function inside the indicative costs as suggested by the PPPRA.”

The federal authorities, in March, introduced that the retail worth of petrol can be adjusted month-to-month to replicate realities within the world crude oil market. On Could 31, 2020, the PPPRA introduced a worth band of N121.50 to N123.50 per litre for the product.

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