FG Reduces Petrol Price To N123.50 Per Litre – AutoReportNG
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FG Reduces Petrol Price To N123.50 Per Litre

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The Petroleum Products Pricing Regulatory Agency (PPPRA) has announced guiding pump price of Premium Motor Spirit (Petrol) ranging from N125. 50 to N123.50 per litre for major oil marketers and independent marketers for the month of June.

Petroleum price PPPRA

The PPPRA also announced that ex-depot price at N102.13 -N104.13 per litre, while ex-depot for collection is put at N109.78-N111.78 per litre.

The adjustment, is in line with the government’s approval for a monthly review of PMS pump price, even though the corporation missed that of May, citing concerns of discussions with the Central Bank of Nigeria geared towards creating a foreign exchange window for major oil marketers.

In a statement on Monday, the PPPRA Executive Secretary, Abdulkadir Saidu, revealed that the guiding price comes into effect on June and is expected to apply at all retail outlets nationwide for the month of June.

He stated that PPPRA and other relevant regulatory Agencies will continue to monitor compliance to extant regulations for a sustainable downstream petroleum sector.


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