The Petroleum Products Pricing Regulatory Agency (PPPRA ) has
announced the reduction of the pump price of the Premium Motor Spirit
(PMS) to N121.50 from N123 per litre.
The PPPRA in its memo titled “A.4/9/017/C.2/IV/701 31“, also
disclosed that the ex-depot price band is now N100. 13 and N108. 13 per
litre while ex-depot for collection is N108. 78 and N111.78 per litre
for the month of June.
Marketers were directed to comply and operate within the indicative prices. The memo read;
“Please recall the recently approved pricing regime which became
effective 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.” After a review of the prevailing market fundamentals in the month
of May and considering Marketers’ realistic operating costs, as much as
practicable, we wish to advise of a new PMS guiding pump mice with
corresponding Ex-Depot price for the month of June, 2020, as follows:“Price Band: N121. 50 N123. 50/Litre Ex-Depocorresponding. 13 N104.
13/Litre Ex-Depot for Collection: N109. 78 N1 1 1. 78/Litre.”
