Despite the hardship, most Nigerians are going through since the outbreak of the coronavirus, the Federal Government has increased the pump price of Premium Motor Spirit popularly known as petrol to N143.80 per liter.
The Petroleum Products Pricing Regulatory Agency(PPPRA) announced this on Wednesday.
It said a new price band of N140.80 to N143.80 per liter will apply for petrol
The PPPRA, 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 liter for the month of July 2020.
“All marketers are advised to operate within the indicative prices as advised by the PPPRA.”
The agency on May 31, 2020, announced a price band of N121.50 to N123.50 per liter for the product.