Thursday, September 03, 2020 / 5:37 AM /by TheCable / Header Image Credit: Guardian NG
The Petroleum Products Marketing Company (PPMC) has
increased the ex-depot price of petrol from N138.62 to N151.56 per litre.
The ex-depot price is the cost at which the product is
sold to marketers.
The PPMC, which is a subsidiary of the Nigerian National
Petroleum Corporation (NNPC), announced the new price in a memo to industry
stakeholders.
"Please be informed that a new product price
adjustment has been effected on our payment platform," it said.
"To this end the price of premium motor spirit (PMS)
is now one hundred and fifty one naira, fifty six kobo (N151.56) per litre.
"This is effective 2nd September, 2020."
In June, the Petroleum Products Pricing Regulatory
Agency (PPPRA) removed the cap on the pricing template for petrol.
The price of the product is now governed by market
forces.
Credit:
The post NNPC
raises petrol price from N138 to N151 per litre first appeared in TheCable on September
02, 2020.
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