The Petroleum Products Pricing Regulatory Agency (PPPRA ) on Monday announced the reduction of the pump price of the Premium Motor Spirit (PMS) to N121.50 from N123 per litre.
According to its guidelines price for the month of June 2020, the ex-depot value band is now N100. 13 and N108. 13 per litre whereas ex-depot for collection is N108. 78 and N111.78 per litre.
In a memo titled “A.4/9/017/C.2/IV/701 31“, the agency urged all marketers to operatensure throughout the indicative costs.
” After a evaluation of the prevailing market fundamentals within the month of May and contemplating Marketers’ practical working prices, as a lot as practicable, we want to advise of a brand new PMS guiding pump mice with corresponding Ex-Depot value 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.”