The Petroleum Products Pricing Regulatory Agency(PPPRA) has fixed a new price of N151.56 per litre for Premium Motor Spirit also known as petrol.
This was contained in a memo released by the Pipelines and Product Marketing Company and signed by D.O Abalaka.
The memo reads, “Please be informed that a new product price adjustment has been effected on our payment platform.
“To this end, the price of Premium Motor Spirit (PMS) is now one hundred and fifty-one naira, fifty-six kobo (N151.56k) per litre. This takes effect from September 2, 2020.”
Recall that the federal government had in March, said the pump price of petrol would be determined by market forces, adding that l, whatever Nigerians would pay for petrol, would be determined by the international prices of crude oil.
