FG reduces petrol pump price to N121.50 per litre

FG reduces petrol pump price to N121.50 per litre

The Federal Government of Nigeria and Petroleum Products Pricing Regulatory Agency (PPPRA) has reduced the petrol pump price to N121.50 per litre.

“Please recall the recently approved pricing regime which became effective 19th March 2020 and the provision for the establishment of a monthly price band within which Petroleum Marketers are expected to sell PMS at the retail stations.

” After a review of the prevailing market fundamentals in the month of May and considering Marketers’ realistic operating costs, as much as practicable, we wish to advise of a new PMS guiding pump mice with corresponding Ex-Depot price for the month of June, 2020, as follows:

“Price Band: N121. 50 N123. 50/Litre Ex-Depocorresponding. 13 N104. 13/Litre Ex-Depot for Collection: N109. 78 N1 1 1. 78/Litre.”

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