An internal memo given by the pipeline and product marketing company and signed by depot manager, D.O Abalaka revealed that the pump price of premium motor spirit (pms) also known as petrol has been increased to N151.56 per litre with effect from yesterday September 2, 2020
The memo read;
"Please be informed that a new product price adjustment had been effected on our payment platform. To this end the price of premium motor spirit (pms) is now one hundred and fifty-one naira, fifty-six kobo (N151.56) per litre. This is effective 2nd September, 2020."
The Nigeria government had in March informed the general public that the pump price of petrol would be determined by market forces stating that how much Nigerians would pay would be largely determined by by the international prices of crude oil.