Kindly Share This Story:…Insists FG’ll not leave pricing to marketers alone By Michael Eboh The Petroleum Products Pricing Regulatory Agency (PPPRA) has explained that the increase in its guiding price of Premium Motor Spirit, also known as petrol, to N143.80 per litre was not as a result of the prices of crude oil alone, but mainly as a result of the increase in the price of petroleum products in the international market. In an interview with Vanguard in Abuja, General Manager, Corporate Services of the PPPRA, Mr. Kimchi Apollo, disclosed that as a result of the gradual opening up of economies worldwide, a surge was recorded in the global demand for Premium Motor Spirit, also known as petrol, which caused the price of the commodity to rise. He stated that the Federal Government had agreed that subsequently, everything concerning the price of PMS would be based on current market fundamentals and market forces. According to him, the current guiding price is basically the price of the commodity as it is, and it is normally an average over a period, which was calculated and used in determining what the price is going to be in the subsequent month. He said, “The… Read full this story
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Why we raised fuel price to N143.80 per litre ― PPPRA have 339 words, post on www.vanguardngr.com at July 2, 2020. This is cached page on Bach Thien. If you want remove this page, please contact us.