Breaking news: FG reduces petrol price to N121.50

FG reduces petrol price

FG reduces petrol price

FG reduces petrol price to N121.50 which means that the prices of petrol have now been reduced again as well as Petroleum Products in Nigeria, 9jatalkative reports

Recall that a few weeks ago the federal government of Nigeria initially cut down the fuel price from N145 to N130 prior to this cut

The Petroleum Products Pricing Regulatory Agency has announced today, June, 2020 that the new price of petrol is now N121.50

The agency made the breaking news in a statement sent to fuel marketers which was dated May 31, 2020, instructing them to strictly follow the new changes in price.

Breaking news: FG reduces petrol price to N121.50

Statement revealing that FG reduces petrol price

The statement sent out by the Petroleum Products Pricing Regulatory Agency which confirms that FG reduces petrol price to N121.50 reads thus;

“Please recall the recently approved pricing regime which became effective March 19, 2020, and the provision for the establishment of a monthly price band within which petroleum marketers are expected to sell PMS at the retail stationsā€

“After a review of prevailing market fundamentals in the month of May and considering marketers realistic operating costs as much as practicable”

“we wish to advise of a new PMS guiding pump price with corresponding ex-depot price for the month of June 2020, as follows; price band N121.50 ā€“ N123.50 per litre.”

“Ex-Depot price N102.13 ā€“ N104.13 per litre. Ex-Depot for collection N109.78 ā€“ N111.78 per litre. All marketers are advised to operate within the indicative prices as advised by the PPPRA.”

Recall that the pump price of petrol was on March 18, 2020 reduced to N130 per litre from N145 per litre which brought praise to the FG

Many Nigerians have voiced out that they are impressed with the actions of the federal government of Nigeria following the price cut

This update on the reduction of fuel pump price by the federal government of Nigeria is brought to you by 9jatalkative News

Lailasnews network also confirms this update on the reduction of fuel pump price by the nigerian Government earlier today

9jatalkative will continue to bring you more breaking news as they break all over the country and the world at large

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