Price of petrol likely to change every month — PPPRA

Posted by News Express | 20 March 2020 | 855 times

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The Petroleum Products Pricing Regulatory Agency (PPPRA) on Thursday said it will start the modulation of petroleum products prices on a monthly basis as from April 1.

PPPRA Executive Secretary, Mr Abdulkadir Saidu, at a press conference, said the price modulation will be determined by market forces, including the price of crude oil.

The PPPRA said it will hold several engagements with petroleum marketers in a bid to secure their buy-in as the prices of their products fluctuate based on market forces.

Some petrol stations in the nation’s capital have started complying with the federal government’s directive to adjust the pump price of premium motor spirit to N125 per litre, Channels TV can report.

Our crew, which went round Abuja, however, discovered that some stations are still dispensing at N145 per litre.

A petrol station metre in Abuja reads N125 on Thursday, March 19, 2020. PHOTO: Sodiq Adelakun / Channels TV.

Source: News Express

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