“No Plan to Increase Petrol Pump Price” – PPPRA

The Petroleum Products Pricing Regulatory Agency, PPPRA, has said there was no plan to increase the official price of petrol in the country.

The Acting Executive Secretary of PPPRA, Sotonye Iyoyo, who disclosed this in a statement, said the agency would retain the retail prices of N86 for the NNPC, and N86.50 for the other marketing companies.

The PPPRA added that the pump price of Household Kerosene, HHK, would also remain unchanged from what it was in the last quarter.

The agency stated: “Therefore, marketers are advised to ensure that there is no price distortion in their respective retail outlets.”

It said it would continue to monitor the global oil market performances and make reasonable changes consistent with the newly-adopted price modulation principles.

It appealed to depot owners to strictly adhere to the prevailing truck-out policy made by the agency, to ensure that petroleum products got to their designated retail outlets nationwide, and warned that adequate sanctions awaited any depot-owner found to be hoarding products.