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Federal Government Hikes Petrol Pump Price

A new petrol price range of N140.80 to N143.80 per litre has been announced by the Petroleum Products Pricing Regulatory Agency.

This is an increase from the N121.50 to N123.50 per litre announced in May.

The Agency claims that the new price range was released after reviews of the global crude oil prices (which has been on the increase), market fundamentals and consideration of marketers realistic operation in June.

Why is the government still fixing pump price? I thought they said subsidy is removed?