FG Announces New Reduction In Pump Price Of Petrol

FG Announces New Reduction In Pump Price Of Petrol
Share on whatsapp
WhatsApp
Share on facebook
Facebook
Share on twitter
Twitter
Share on telegram
Telegram
Share on linkedin
LinkedIn
Share on print
Print
The Petroleum Products Pricing Regulatory Agency (PPPRA) has announced further reduction of the pump price of Premium Motor Spirit (PMS) also known as petrol from ₦125 to ₦123.50k per litre.

The agency made the announcement in a statement signed by its Executive Secretary, Abdulkadir Saidu, in Abuja on Tuesday night.

“PPPRA in line with the government approval for a monthly review of Premium Motor Spirit (PMS) pump price, hereby announces Guiding PMS pump price of N123.50 per Litre.

“The Guiding price which becomes effective April 1 2020, shall apply at all retail outlets nationwide for the month of April, 2020.”

He added that PPPRA and other relevant regulatory agencies would continue to monitor compliance to extant regulations for a sustainable downstream petroleum sector.

Saidu noted that members of the public and all Oil Marketing Companies are to be guided accordingly.

The agency had on March 18 reduced the pump price of PMS from N145.00 to N125.00.

It noted that from April 1, it would start a new pricing modulation that would reflect the global market fundamental.

 

AFRICA DAILY NEWS, NEW YORK

Share on whatsapp
WhatsApp
Share on facebook
Facebook
Share on twitter
Twitter
Share on telegram
Telegram
Share on linkedin
LinkedIn
Share on print
Print