The Pipeline Products Marketing Company has announced new petrol pump price of N151.56 per litre.
In a brief internal memo with ref: “PPMC /IB/LS/020, dated September 2, 2020, the company said “a new product price adjustment has been effected on our payment platform. “To this end the price of premium motor spirit is now one hundred and fifty one naira, fifty six kobo per litre.” The Head Depot Manager, D.O. Agbalaya, who signed the memo said; “This is effective from September 2, 2020.”Anxiety as vandalised NNPC pipeline spills petrol into Lagos communityRecall that the PPPRA had on August 4 approved an ex-depot price of N138.62 per litre for the Premium Motor Spirit petrol and kept the pump price to its chest.The Federal Government based its hike on the increase in the prices of crude oil in the month of August.It deregulated the product in March this year.
In the month of July, the agency had approved a pump price of a band of N140.80 to N143.80 per litre.Prior to the July 1 hike, the agency had on May 1, approved price band of N121.50 to N123.50 per litre for the product.
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