The Petroleum Products Pricing Regulatory Agency (PPPRA) on Tuesday further reduced the pump price of petrol to N123.50 per litre.
The agency in a statement explained that the new price was in line with the directive of President Muhammadu Buhari for month by month adjustment of the price of petrol.
ExpressDay recalls that the Federal Government had two weeks ago reduced the pump price of petrol from N145 to N125 per litre following the drop in the international price of crude oil.
“PPPRA, in line with the Government approval for a monthly review of Premium
Motor Spirit (PMS) pump price, hereby announces Guiding PMS pump price of
N123.50 per litre.
“The Guiding price which becomes effective 1st April 2020, shall apply at all retail outlets nationwide for the month of April, 2020.
“PPPRA and other relevant regulatory Agencies shall continue to monitor
compliance to extant regulations for a sustainable downstream petroleum sector.
“Members of the Public and all Oil Marketing Companies are to be guided accordingly”, the statement signed by the Executive Secretary, Abdulkadir Saidu, added.