The Petroleum Products Pricing Regulatory Agency (PPPRA ) announced the discount of the pump price of the Premium Motor Spirit (PMS) to N121.50 from N123 per litre.
The PPPRA in its memo titled “A.4/9/017/C.2/IV/701 31“, additionally disclosed that the ex-depot price band is now N100.13 and N108.13 per litre whereas ex-depot for collection is N108.78 and N111.78 per litre for the month of June.
Marketers directed to comply and operate inside the indicative prices.
The memo read; “Please recall the recently approved pricing regime which became effective 19th March 2020 and the provision for the establishment of a monthly price band within which Petroleum Marketers are expected to sell PMS at the retail stations.”
After a review of the prevailing market fundamentals within the month of May and considering Marketers’ realistic operating costs, as much as practicable.
We wish to advise of a new PMS guiding pump mice with corresponding Ex-Depot price 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 N111.78/Litre.”
Baru died on Friday night time, May 29, at the age of 60.