The pump price of premium motor spirit has been reduced from ₦123 per litre to ₦121.
This was announced by the Petroleum Products Pricing Regulatory Agency, PPPRA on Monday morning.
In a memo tagged A.4/9/017/IV/C.2/701 31, the agency urged marketers to comply as indicated.
The memo further noted that “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 corresponding ex-depot price for the month of June 2020 as follows:
“Price band: ₦121.50 ₦123.50/litre ex-depocorresponding 13 ₦104.13/little ex-depot for collection: ₦109.78 ₦1 1.78/litre.”