Global News

Federal Government Reduces Petrol Price To N121.50 Per Litre

Federal Government Reduces Petrol Price To N121.50 Per Litre (Updated: Monday, 1st June 2020, 09:16 PM)


The Petroleum Products Pricing Regulatory Agency (PPPRA ) has announced the reduction of the pump price of the Premium Motor Spirit (PMS) to N121.50 from N123 per litre.

The PPPRA in its memo titled “A.4/9/017/C.2/IV/701 31“, also disclosed that the ex-depot price band is now N100. 13 and N108. 13 per litre while ex-depot for collection is N108. 78 and N111.78 per litre for the month of June.

Marketers were directed to comply and operate within the indicative prices. The memo read;

“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.”

Add a coment

Recent Posts

Teni
Teni
Lil Kesh
Lil Kesh
S Gee
S Gee
Rexxie
Rexxie
Bad Boy Timz
Bad Boy Timz
Runtown
Runtown
Made Kuti
Made Kuti
Tems
Tems
Picazo
Picazo
Ruger
Ruger
Illbliss
Illbliss
Dre San
Dre San
Mz Kiss
Mz Kiss
Fireboy DML
Fireboy DML
Banny
Banny
Adekunle Gold
Adekunle Gold
Wizkid
Wizkid
Klever Jay
Klever Jay
Sinach
Sinach
Jaywon
Jaywon
Rema
Rema
Wale Turner
Wale Turner
Peruzzi
Peruzzi
SkiiBii
SkiiBii
Dammy Krane
Dammy Krane
Fizzy Mayur
Fizzy Mayur
Nasty C
Nasty C
Vector
Vector
Bisa Kdei
Bisa Kdei
Asa
Asa
Frank Edwards
Frank Edwards
Laycon
Laycon
Deshinor
Deshinor
Baddy Oosha
Baddy Oosha
Lyta
Lyta
Davolee
Davolee
Temmie Ovwasa
Temmie Ovwasa
Kizz Daniel
Kizz Daniel
Zuchu
Zuchu
Emma Nyra
Emma Nyra
NAIJAKIT.COM