Reports reaching us from Abuja says that Petroleum Products Pricing Regulatory Agency at the Abuja Headquarters announced the rise in petrol price simply because of the increase in global crude oil prices. The current price now is at N143.80 from N140.80.
“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 the PPPRA.”
Remember that on May 31, 2020, the PPPRA announced a price band of N121.50 to N123.50 per litre for the product.