FG Increases Petrol To N143.80 Per Litre

 FG Increases Petrol To N143.80 Per Litre

The Federal Government has increased the pump price of Premium Motor Spirit popularly known as petrol to N143.80 per litre.

This was revealed, in a circular dated July 1, 2020 to marketers by the Petroleum Products Pricing Regulatory Agency(PPPRA) .

The circular read 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 litre for the month of July 2020.”

“All marketers are advised to operate within the indicative prices as advised by the PPPRA.”

The agency on May 31, 2020, announced a price band of N121.50 to N123.50 per litre for the product. With the recent development, the new price band of N140.80 to N143.80 per litre will now apply for petrol.

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