PPPRA announced the reduction of pump price from 123 Naira to 121.50 Naira per Litre on Monday

Paul Emmanuel
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Petroleum Products Pricing Regulatory Agency (PPPRA) - Invitation ...

The Petroleum Products Pricing Regulatory Agency (PPPRA ) on Monday announced the reduction of the pump price of the Premium Motor Spirit (PMS) from 123 naira,  to 121.50 naira  per litre.

According to its guidelines price for the month of June 2020, the ex-depot price band is now 100. 13 naira and 108. 13 naira per litre while ex-depot for collection is N108. 78 and N111.78 per litre.

In a memo, the agency urged all marketers to operate within the indicative prices.

The PPPPRA noted the recently approved pricing regime which became effective on 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.

It said after a review of the prevailing market fundamentals in the month of May and considering Marketers’ realistic operating costs, as much as practicable, it had to advise of a new PMS guiding pump mice with corresponding Ex-Depot price for the month of June, 2020.

PR/PPPPRA/Monic.

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