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Home » Events » Marketers groan as FG cuts petrol price to N121.50

Marketers groan as FG cuts petrol price to N121.50

Fuel marketers have expressed concerns over the further reduction by the Federal Government of the pump price of Premium Motor Spirit, also known as petrol.

The Petroleum Products Pricing Regulatory Agency, in a circular to marketers dated May 31, 2020, announced a new pump price band of N121.50 to N123.50 per litre for petrol.

In the circular, which was obtained by our correspondents on Monday, the agency noted the recent approval of the pricing regime that became effective on March 19 and the provision for the establishment of a monthly price band within which retailers should sell the product.

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