The Petroleum Products Pricing Regulatory Agency (PPPRA), has fixed the pump price band of Premium Motor Spirit (PMS), also known as petrol at between ₦140.80 and ₦143.80 per litre for the month of July.
Executive Secretary of the Agency Abdulkadir Saidu disclosed this in a memo to all Petroleum Products marketers released in Abuja on Wednesday.
The memo was titled `Advised price for Premium Motor Spirit (PMS) in the month of July 2020.’
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“After a review of the prevailing market fundamentals in the month of June and considering marketers realistic operating cost, as much as practicable, we wish to advise that a new PMS pump price band of ₦140.80 to ₦143.80 per litre be for the month of July.
“All marketers are advised to operate within the indicative prices as advised by the PPPRA,’’ he said.
He added that the ex-depot for collection include the statutory charges of bridging fund, maritime transport average, National Transport Allowance and administrative charges.
Since April, PPPRA had continue to issue a monthly price band of PMS for marketers.
In June, there was a slight reduction as the price was fixed at ₦121.50 per litre from N123.50 in May.
The July new price is N20.30 higher than the June price of ₦121.50 per litre.
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