Following increase in the prices of crude oil, marketers are pushing for the upward review of the Premium Motor Spirit (PMS) petrol N150 per...
Following increase in the prices of crude oil, marketers are pushing for the upward review of the Premium Motor Spirit petrol N150 per litre for the month of August.
The Petroleum Products Pricing Regulatory Agency last month announced increase of the product to a band of N140.80 to N143.80 per litre.ADVERTISEMENT Prior to the July 1 hike, the agency had on May 1, approved price band of N121.50 to N123.50 per litre for the product. Meanwhile, a reliable source at the meeting on Tuesday told The Nation that the marketers were seeking a further increase in the price owing to the soaring priced of crude oil in the international market.She said: “We are now in the meeting to fix a new petrol price for the month of August.
“We are asking the PPPRA to approve N150 per litre because the prices of crude oil have increased and there is no subsidy on the product.
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