The Petroleum Products Pricing Regulatory Agency, (PPPRA), has announced a new pump price band of N121.50 to N123.50 per litre for Premium Motor Spirit, (PMS) which is also known as petrol.
The PPPRA, an agency of the Federal Government, made this announcement in a circular to fuel marketers which was May 31, 2020.
The sharp drop in crude oil prices on the back of the spread of COVID-19 saw the landing cost of petrol hitting a record low in the month of March, wiping off subsidy on the product.
