The Executive Secretary, Petroleum Products Pricing Regulatory Agency, Abdulkadir Saidu, says the Federal Government has no plans to increases the price of Premium Motor Spirit known as petrol.
Saidu restated in a statement on Tuesday in Abuja that the retail price of petrol remained at the subsisting price cap of N145 per litre.
He urged Nigerians to ignore the growing speculation on the purported imminent increase in the pump price.
The executive secretary advised marketers to ensure that there was no price distortion in their respective retail outlets.
He added that PPPRA would continue to carry out its oversight function of monitoring activities in depots and in all filling stations across the country.
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This, he said, was to ensure adherence to the regulated price and to nip in the bud other forms of sharp practices at retail outlets.
The executive secretary further warned that adequate sanctions awaited any erring filling station.
He commended the petroleum product marketers in the country for embracing dialogue with the federal government to resolve the issues arising from payment of the outstanding fuel subsidy claims.