FG hikes fuel pump price to N143.80 per litre
The Federal Government (FG) has hiked the pump price of Premium Motor Spirit (PMS) also known as petrol to N143.80 per litre.
FG disclosed this through the Petroleum Products Pricing Regulatory Agency (PPPRA) on Wednesday, adding that a new price between N140.80 to N143.80 per litre would apply for petrol with effect from this month.
The agency, in a circular dated July 1, 2020 to marketers, said:
“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-N143.80 per litre for the month of July 2020.
“All marketers are advised to operate within the indicative prices as advised by the PPPRA.”
This hike is coming as Nigerians lamented that barely four months of lockdown, that the federal government decided introducing increase in oil at this time instead of bailout and palliatives.
