According to report reaching oyogist.com, the Petroleum Products Marketing Company (PPMC) has again increased the ex-depot price of Premium Motor Spirit (PMS) petrol.
PPMC is subsidiary of the Nigerian National Petroleum Corporation (NNPC).
The new ex-depot price was contained in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020,
The circular signed by Tijjani Ali said the change is effective Friday November 13.
He said, “The implication of the increase in the ex-depot price is that there is going to be an increase in the pump price. We are expecting the pump price to range from N168 to N170 per litre.
“Crude oil price is going up,” noting that the Federal Government has fully deregulated petrol prices.
The approximately N8 increment would cause an increase in pump prices to about N170 per litre nationwide
