The Federal Government, led by president Muhammadu Buhari through the Petroleum Products Pricing Regulatory Agency (PPPRA) has announced a new retail price band for oil marketers across the country.
In a circular dated July 1st, the downstream regulator said oil marketers are now expected to sell petrol within the price range of N140.80 and N143.80.
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The circular reads in part;
“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 of N140.80 to 143.80/Litre for the month of July, 2020.”
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