Business & Finance

FG increases price of fuel again, petrol now N151.56 per litre.

The Pipeline and Product Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation (NNPC) has announced an increment in the price of petrol to N151.56 per litre.

FG increases price of fuel again, petrol now N151.56 per litre.  In a statement seen by our reporter, D.O Abalaka of the PPMC, wrote: “Please be informed that a new product

FG increases price of fuel again, petrol now N151.56 per litre.

In a statement seen by our reporter, D.O Abalaka of the PPMC, wrote: “Please be informed that a new product price adjustment has been effected on our payment platform.

“To this end, the price of Premium Motor Spirit (PMS) is now one hundred and fifty-one naira, fifty-six kobo (N151.56k) per litre.”


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The price hiked to N143.80 per litre just last July. That increased was disclosed by Executive Secretary of Petroleum Products Pricing Regulatory Agency (PPPRA), Abdulkadir Saidu, in a circular dated Wednesday, July 1, 2020, to oil marketers,

The statement from the circular read: ‘’After a review of the prevailing market fundamentals in the month of June and considering marketers’ realistic operating costs, as much as practicable, we wish to advise a new PMS pump price band of N140.80-N143.80 per litre for the month of July 2020.’’

‘’All marketers are advised to operate within the indicative prices by the PPPRA.’’

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