In a new monthly template, the Petroleum Products Pricing Regulatory Agency (PPPRA) announced that the price of Premium Motor Spirit (PMS), also known as petrol, has risen to N212.6 per litre.

The retail price of gasoline is expected to sell between N209.61 and N212.61, according to the template released Thursday night. The upper band is where most marketers sell.

The new price, according to the PPPRA’s PMS guiding price, released to stakeholders, is supposed to commence from March 1st and run till March 31st, 2021.

According to the downstream oil sector regulator, the actual pump price of PMS for February was between N183.74 and N186.74 per litre, implying that the Federal Government paid an average of N16 per litre for PMS during the month.