Home Business Publication of petrol Guiding Prices indicative of market trends– PPPRA argues
BusinessNews

Publication of petrol Guiding Prices indicative of market trends– PPPRA argues

Share
Share

By Chioma Obinagwam

The Petroleum Products Pricing Regulatory Agency (PPPRA) has clarified that the publication of the ‘guiding prices’ posted on its website implied current market trends.

Confiance News gathered from a statement posted on the official Twitter handle of PPPRA on Friday.

The agency added that it is its responsibility to publish monthly ‘guiding prices’ in line with the Market-based Pricing Regime.

“One of the conditions for the market-based pricing regime for PMS regulation 2020 is the monthly release of ‘guiding price’ to reflect current market fundamentals,” PPPRA disclosed.

PPPRA Press Release. Photo: Twitter

Confiance News recalls that Premium Times earlier reported that the agency released a template late Thursday, indicating a huge jump in the retail price of petrol from about N160 to N212.

The decision contradicted earlier assurances by the Nigerian National Petroleum Corporation (NNPC) that there will be no increment in March, prompting the government to disown it and apologise.

However, previous templates released by the agency formed the basis of fuel price increase or decrease in the country.

Prior to latest controversial announcement, the PPPRA published its last template in November 2020.

Please follow and like us:
Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Start your career with NNPC Limited

Start your career with NNPC Limited
Start your career with NNPC Limited

Member

Don't Miss

How creation of flood insurance can reduce risks

Please follow and like us:

How publisher of The Eagle Online became president of Media Cooperative Society

The publisher of The Eagle On-line, Dotun Oladipo, is the reigning president of Innovative Media Partners Cooperative Multipurpose Society...

Related Articles

How creation of flood insurance can reduce risks

Please follow and like us:

How publisher of The Eagle Online became president of Media Cooperative Society

The publisher of The Eagle On-line, Dotun Oladipo, is the reigning president...

‘How reliable are the public agencies involved?’ Netizen reacts to Union Bank’s Fire drill

Netizens raises concerns over the reliability of public agencies in real life...

Reactions as Alex Iwobi releases new single

By Chioma Obinagwam British-Nigerian professional footballer, Alex Iwobi, has released a new...

Advertisements