PPPRA removes price cap on petrol

The agency made the disclosure in a document it released in Abuja on Thursday entitled, ‘’Market Based Pricing Regime for Premium Motor Spirit Regulations, 2020’’.

It said that it would continue to monitor trends in the crude oil market and advise the Nigerian National Petroleum Corporation and oil marketers on monthly guiding price for the commodity.“From the commencement of these regulations, a market-based pricing regime for Premium Motor Spirit shall take effect.

“The price of Premium Motor Spirit advised by the agency shall be guiding retail price at which the product shall be sold across the country.

Source: Car News Wire (carnewswire.net)

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