By Akinwale Kasali
Less than Six weeks after reducing the price of petrol on two occasions, the Petroleum Products Pricing Regulatory Agency (PPPRA) has announced a new retail price band for oil marketers for the month of July, amid Coronavirus crisis in Nigeria.
The increase , the magaizne gathered, was made in a circular dated July 1st, where the downstream regulator said oil marketers are now expected to sell petrol within the price range of N140.80 and N143.80.
The circular reads thus; “Please, recall the provision for the establishment of a monthly price band within which Petroleum Marketers are expected to sell PMS at the retail stations, based on the existing price regime.
“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 of N140.80 to 143.80/Litre for the month of July 2020,” the PPPRA circular said on petrol price.
Details and reactions, later…
Discover more from The Source
Subscribe to get the latest posts sent to your email.
