Petrol Pump Price Increased By The Government Of Nigeria

The government of the Federal Republic of Nigeria has increased fuel pump price.

The reulatory body, Petroleum Products Pricing Regulatory increased the pump price of petrol to N140.80/143.80 per litre from the present N121.50 per litre.

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

The pump price of petrol was on June 1, 2020 reduced to N121.50 per litre from N123 per litre.

The circular in part reads;

β€œAfter 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,”

See details in the letter attached;

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