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Tougher times await Nigerians, FG hikes petrol pump price again!

Petrol pump price increase

The Federal Government agency, Petroleum Products Pricing Regulatory Agency is at again with another announcement for a new increase on petrol pump price increase to N151.56 same day Nigerians a groaning under increase in electricity bills.

READ ALSO:  FG Jerks Up Petroleum Pump Price To N143.80

This new development was contained in a memo released by the Pipelines and Product Marketing Company and signed by D.O Abalaka.

The Nigerian Government had in March said the pump price of petrol would be determined by market forces, stating that how much Nigerians would pay would be largely determined by the international prices of crude oil.

Petrol pump price increase
Petrol pump price increase

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The memo reads,

“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. This takes effect from September 2, 2020.”

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Written by Adesoji OMOSEBI

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