The Nigerian government on Tuesday said it would no longer provide price bands at which fuel marketers would sell Premium Motor Spirit, otherwise called petrol, at filling stations.
This was made known by the Petroleum Products Pricing Regulatory Agency (PPPRA), which noted that the downstream arm of the oil and gas sector had been fully deregulated and that the price of PMS would now be determined by the forces of demand and supply and the international cost of crude oil.
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