Since 2016, the pump price of petrol has been wreaking havoc with the pockets of Nigerians – ever ticking upward, never seeming to come down.
In May 2016, the pump price of petrol was increased to N145 per litre, up from N86.50 where the previous government of Goodluck Jonathan left it.
In March 2020, the pump price of petrol was reduced to N125 from N145 per litre.
In May 2020, Petroleum Products Pricing Regulatory Agency (PPPRA) announced a new pump price band to between N121.50 to N123.50 per litre.
It remained like that in June.
But in July 2020, it was further increased to between N140.80 and N143.80.
In August 2020, it was again hiked to between N145.86 and N148.86.
The latest increase was on September 2, 2020 when it was further increased to N151.56.
But the marketers said they could sell it higher than that.
Source: Daily Trust