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Fuel marketers have expressed concerns over the further reduction by the Federal Government of the pump price of Premium Motor Spirit, also known as petrol.
The PPPRA said, “After a review of 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 the corresponding ex-depot price for the month of June 2020, as follows: price band N121.50 – N123.50 per litre.
The pump price of petrol was reduced to N125 per litre from N145 per litre on March 18, 2020, effective March 19. He urged the PPPRA to carry the operators along in determining the monthly price band for the product.
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