Many Nigerians are shocked as the Federal Government announces an increase in the new pump price of Premium Motor Spirit, otherwise known as Petrol, to N143.80 per litre.
According to a monitored report, this was disclosed by Petroleum Products Pricing Regulatory Agency (PPPRA) in a circular dated Wednesday, July 1, 2020, to oil marketers,
The statement from the circular says, ‘’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 for a new PMS pump price band of N140.80-N143.80 per litre for the month of July 2020.’’
Details later.
