By Praise Udugba
The Petroleum Products Pricing Regulatory Agency (PPPRA), yesterday, effected a further reduction in the pump price of Premium Motor Spirit (PMS), also known as petrol, to N121.50 per litre, N2.0 down from N123.50 per litre last month. This is the third reduction this year.
In a letter to petroleum products marketers, the PPPRA disclosed that the new price band for PMS is now N121.50 and N123.50 per litre, meaning that no marketer is allowed to sell above the highest price range of N123.50.
The letter, with Reference number: A.4/9/017/C.2/V/701, titled, ‘Guiding Price for Premium Motor Spirit (PMS) in the Month of June 2020,’ the PPPRA advised oil marketers to abide by the new price