BREAKING: FG Hikes Petrol Pump Price

The Petroleum Products Pricing Regulatory Agency has hiked the pump price of petrol to N140.80/143.80 per litre from the present N121.50 per litre.

The regulatory agency announced the hike in petrol price in a statement dated July 1, 2020 and signed by its Executive Secretary, Abdulkadir Saudi.

Recall that on June 1, 2020 the price was reduced to N121.50 per litre from N123 per litre.

The statement reads partly:

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 – 143.80/litre for the month of July, 2020.”