Breaking: FG Increases Petrol Pump Price from N121 to N140.8 Per Litre

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SWITZERLAND, JULY 01 – The Petroleum Products Pricing Regulatory Agency(PPPRA) has increased the pump price of petrol to N140.80 – 143.80 per litre from the present N121.50 per litre.

Recall that the PPPRA had announced on June 1 that it had reduced the pump price of petrol to around N121 per litre.

The regulatory agency announced the new retail price band to marketers in a circular dated July 1, 2020 and signed by its Executive Secretary, Abdulkadir Saudi. 

“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 – 143.80/litre for the month of July, 2020,” part of the circular reads.

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