According to information disclosed through the Petroleum Products Pricing Regulatory Agency, the Federal government will no longer regulate price bands for the sale of the premium motor spirit popularly called petrol noting that the downstream arm of the oil and gas sector had been fully deregulated.
During the briefing held at the PPPRA headquater in Abuja, the agency's Executive secretary, Abdulkablir Saidu responsed to some questions asked in the Journalist questioning session of the briefing stating that, going foward, PMS price would be determined by the forces of demand and supply and the international cost of crude oil.
However, Saidu also noted that the agency was obligated to ensure that oil marketers don't profiteer, as every dealer of fuel was, henceforth free to souce for product and fix their price.
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