[b]Petrol now N65 per litre !

[b]FOLLOWING the downward trend in the prices of crude and refined petroleum products at the international market, the Petroleum Products Pricing Regulatory Agency (PPPRA) has reduced the market pump price of Premium Motor Spirit (PMS) to N65 for the month of January.


The PPRA, which announced this in Abuja on Thursday evening, stated that the reduction was in line with its statutory mandate to substitute the fixed price with a recommended price in order to pass on the benefit of this drop in price to the Nigerian public.


It, therefore, recommended that all petroleum marketers should take a cue from the open market reference price level for petrol, noting that the average for the one-month period as specified from the PPPRA’s posted price would be on its website or as published in the national dailies.


The PPPRA urged all petroleum marketers to comply with this price immediately.


It added that “The PPPRA, using its automatic price adjustment mechanism, shall be posting on its website as well as announcing and publishing in the media the indicative price of petrol on monthly basis.”


The PPPRA added that it will continue to liaise with the Department of Petroleum Resources (DPR) to ensure that petroleum marketers do not engage in profiteering by selling above the upper limit of the open market price monitored by the agency. [/b]
NIG TRIBUNE

This injunction will take a rather slow compliance compared with the way the marketers comply with alacrity when the price takes a north-pole direction.Naija with its unending drama!

kay_pumpin:

This injunction will take a rather slow compliance compared with the way the marketers comply with alacrity when the price takes a north-pole direction.Naija with its unending drama!

Your guess is as good as mine. The marketers are just a bone in the throat and they are necessary evils!

What this practically means is that the subsidy on fuel has been removed
Hence, any upward move in the price of Crude oil will not be subsidised by Government
assuming it goes beyond N70 a litre what happens?
Of course Nigerians will scream so its not yet uhuru. . . .

Emperoh:

What this practically means is that the subsidy on fuel has been removed
Hence, any upward move in the price of Crude oil will not be subsidised by Government
assuming it goes beyond N70 a litre what happens?
Of course Nigerians will scream so its not yet uhuru. . . .

Fellow nairalanders!
The 5 naira petrol price reduction is not a thing to rejoice over because it could make way for an increament soon.

And besides, the drop from N70 to N65 is not proportional to the fall in crude oil price, the reason for hiking the price in the first place.

This is the beginning of another round of palaver in the petroleum sector! mark my words! for Every 1kobo reduction, expect a N10 increase!

and fuel scarcity too!!! we alwaz have reverse effects in naija, abi wetin una tink,

this news done old pass when i begin get teeth for mouth


what is the difference of N5 even when it was on N70 we at Port harcourt were all busy paying N100 already and N120 in most places

now its been reduced it still doesnt make a sense to us ovcer here, we have been used to shaking hands with both the hands and feet

Mark my word, there is already a foul play somewhere in the atmosphere.
This issue of monthly announcement of pump price would definitely not end well.

kola oloye:


This issue of monthly announcement of pump price would definitely not end well.

definitely

Good news Big father!!
Abuja NNPC MEGA station has started selling N65/litre already

kola oloye:

Mark my word, there is already a foul play somewhere in the atmosphere.
This issue of monthly announcement of pump price would definitely not end well.

For sure!