According to reports reaching OYOGist.com, the federal government has announced that the price of petrol has been increased to N143 for July. The Petroleum Products Pricing Regulatory Agency (PPPRA) announced this in a statement on Tuesday.
The Honorable Minister of State for Petroleum Resources, Timipre Sylva, had previously announced that the price of petrol will be adjusted every month to reflect the happenings of the global crude oil market.
Please recall the provision for the establishment of a monthly price band within which Petroleum Marketers are expected to sell PMS at the retail stations, based on the existing price regime.
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 #140,80 N143.80/Litre, for the month of July, 2020.
Kindly note that the Ex-depot for collection includes the statutory charges of Bridging Fund, Marine Transport Average, National Transport Allowance (NTA) and the Administrative charge.