The Petroleum Products Pricing Regulatory Agency on Wednesday said filling stations were allowed to sell Premium Motor Spirit otherwise known as petrol between N123.50 and N125.
It was reacting in a statement by its Executive Secretary, Abdulkadir Saidu, to complaints that many filling stations across the country had failed to adjust to the fresh reduction of the commodity’s price by the Federal Government.
The statement reads: “In line with Government approval of a new pricing regime, effective 19th March
2020, in which there was a provision for the establishment of a price band within
which Oil Marketing Companies (OMCs) are expected to sell at the retail stations.
Accordingly, the PPPRA wishes to further clarify the Guiding Price Band of
(effective 1st April 2020):
N123.50 per litre – Lower Band (LB)
N125.00 per litre – Upper Band (UB)
Members of the Public and all Oil Marketing Companies are to be guided