The Independent Petroleum Marketers Association of Nigeria, Kano State chapter, has reacted to the new price modulation announced by the Petroleum Pricing Regulatory Agency and instructed its members
to immediately comply with the advice of the government on the new price regime.
He asked all marketers under his jurisdiction to comply with the new price by making sure that no one sells above the approved ceiling of N123.50K per litre. “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 price with a corresponding ex-depot price for the month of June 2020, as follows: Price Band: N121. 50 — B123. 50 per litre.“All marketers are advised to operate within the indicative prices as advised by the PPPRA,” the circular said.
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