Petrol Price Now N151.56 per litre



The news now Ejes Gist Media  is that the Pipeline Products Marketing Company (PPMC) has announced new petrol pump price of N151.56 per litre.

In a brief internal memo with ref: “PPMC /IB/LS/020, dated September 2, 2020, the company said “a new product price adjustment has been effected on our payment platform.

Massive Recruitment at the Nigerian Electricity Regulatory Commission (NERC) – APPLY NOW

“To this end the price of premium motor spirit (PMS) is now one hundred and fifty one naira, fifty six kobo (N151.61) per litre.”

The Head Depot Manager, D.O. Agbalaya, who signed the memo said; “This is effective from September 2, 2020.”

The price of the Brent crude was as at Wednesday $46 per barrel.

The marketers sold petrol for between N145.80 to N150 per litre in the month of August.

ALSO READ : So Sad! Pregnant Woman Murdered After Being Lured To A Fake Baby Shower, Her Child Cut Out Of Her Body (Photo)

Recall that the PPPRA had on August 4 approved an ex-depot price of N138.62 per litre for the Premium Motor Spirit (PMS) petrol and kept the pump price to its chest.

The agency reviewed it upward by N6 from its previous N132.00 per litre of July.

The Federal Government based its hike on the increase in the prices of crude oil in the month of August.

The Brent Crude sold that for $43.24 per barrel in July rose to $44.03 per barrel in August.

It deregulated the product in March this year.

In the month of July, the agency had approved a pump price of a band of N140.80 to N143.80 per litre.

It was the first time that the agency approved a new price after the removal of petrol subsidy.

ALSO READ : Nigerian Defence Academy NDA List of Successful Candidates 2020 PDF for the AFSB 72nd Regular Course (Batches 1, 2 & 3)

Prior to the July 1 hike, the agency had on May 1, approved price band of N121.50 to N123.50 per litre for the product.

Source : TVC , The Nation and Ejes Gist Media



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.