The Petroleum Products Pricing Regulatory Agency has insisted that it would continue fixing price bands for petrol despite opposition by oil marketers to the move.

It also declared that a regulation for Premium Motor Spirit, popularly called petrol, had been established in collaboration with the Federal Ministry of Petroleum Resources and the Office of the Attorney-General of the Federation.

The Executive Secretary, PPPRA, ABDULKADIR SAIDU, disclosed this while addressing questions on the PMS pricing regime, which commenced on March 19, 2020.

SAIDU noted that while the market-based pricing regime was a policy introduced to free the market of all burden to investment and growth, it should not be misconstrued to mean a total handing over of government’s responsibility to the sector and citizenry.