The federal government through the Petroleum Products Pricing Agency, PPPRA has announced a new retail price band for oil marketers across the country.
In a circular dated July 1st, the downstream regulator said oil marketers are now expected to sell petrol within the price range of N140.80 and N143.80.
The circular further stated that following the establishement of a monthly price band which the petroleum marketers are expected to sell PMS at the retail stations, the new price is based on the existing price regime.
PPPRA explained that after the review of the prevailing market fundamentals in the month of June and considering market realistic operational cost the new price band of between N140.80 to N143.80 per litre was arrived at for the Month of July.
