JUST IN! FG Increases Pump Price Of Petrol to N143.80 Per litre.
The Federal Authorities has elevated the pump value of Premium Motor Spirit popularly often called petrol to N143.80 per litre.
FG Will increase Petrol Pump Value To N143.80
The Petroleum Merchandise Pricing Regulatory Company has introduced a brand new value band of N140.80 to N143.80 per litre for Premium Motor Spirit, also referred to as petrol.
Sources on the Abuja headquarters of the company mentioned the rise in petrol value was primarily because of the enhance in world crude oil costs.
A round launched on Wednesday July 1, from the PPPRA to entrepreneurs reads;
“After a assessment of the prevailing market fundamentals within the month of June and contemplating entrepreneurs’ life like working prices, as a lot as practicable, we want to advise a brand new PMS pump value band of N140.80-N143.80 per litre for the month of July 2020.
All entrepreneurs are suggested to function throughout the indicative costs as suggested by the PPPRA.”
The federal authorities, in March, introduced that the retail value of petrol can be adjusted month-to-month to replicate realities within the world crude oil market. On Might 31, 2020, the PPPRA introduced a value band of N121.50 to N123.50 per litre for the product.
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