THE Petroleum Products Pricing Monitoring Agency, PPPRA, Wednesday, raised Nigeria’s fuel price for July 2020, to between N140.80 – N143.80 per litre. In a letter to the marketers, obtained by Vanguard, PPPRA stated:
“Please recall the provision for the establishment of a monthly price band within which petroleum marketers are expected to sell PMS at the retail stations, based on the existing price regime.
“After a review of the prevailing market fundamentals in the month of June and considering marketers’ realistic operating costs, as much as practicable, we wish to advise a new PMS pump price band of N140.80 – N143.80/litre for the month of July 2020.”
It added: “Kindly note that the Ex-depot for collection includes the statutory charges of Bridging Fund, Marine transport Average, National Transport Allowance and the Administrative charge. All marketers are advised to operate within the indicative prices as advised by PPPRA.”