PPPRA gazettes market-based pricing regime for petrol

  • 📰 MobilePunch
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The Petroleum Products Pricing Regulatory Agency has gazetted a market-based pricing regime for petrol.

Spokesperson of the agency, Kimchi Apollo, stated on Wednesday that with the new gazette, oil marketers were now empowered to fix petrol price in accordance with the market realities.

He told our correspondent in Abuja that the gazette on pricing regime for petrol was issued in March 2020. The PPPRA had in March this year declared that petrol price would be determined by the forces of demand and supply. It stated that the price of crude oil in the international market would to a large extent determine the cost of petrol domestically.

The Executive Secretary, PPPRA, Abdulkadir Saidu, had said the agency would continue to ensure that the downstream oil sector was deregulated in a way that both oil marketers and consumers of petrol enjoyed the benefit of deregulation.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Deregulation: FG gazettes market-based pricing
Source: Daily Trust - 🏆 13. / 51 Read more »