Friday, August 14, 2020

Petrol price hits N143.8, stakeholders push for total deregulation

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The pump price band for Premium Motor Spirit has been increased from N121.5 – N123.5/litre to N140.8 – N143.8/litre for the month of July 2020.

However, different stakeholders, including petroleum products marketers and the Manufacturers Association of Nigeria, said total deregulation rather than price control could drive the price below what presently obtains

It was gathered that the Petroleum Products Pricing Regulatory Agency advised marketers to sell the commodity within the price band of N140.8 to N143.8/litre.