FG raises petrol pump price to N143.80

The Petroleum Products Pricing Regulatory Agency has announced a new price band of N140 . 80 to N 143 .80 per litre for Premium Motor Spirit , also known as petrol .
The PPPRA , in a circular dated July 1 , 2020 to marketers , said , “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 N 140 .80 -N 143 .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 N 121 .50 to N 123 .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 .

Source punchng