The Petroleum Products Marketing Company, PPMC, the downstream subsidiary of the Nigerian National Petroleum Corporation, NNPC, has fixed the ex-depot price of Premium Motor Spirit, PMS, also known as petrol, at N138.62 per litre.
OYOGist.com has gathered that the ex-depot price of the product would see a marginal increase of N15 at the final pump price to account for the various cost of running the business for marketers.
The PPMC also fixed the ex-coastal price of petrol, which is the price depot owners get the product, at N113.70 per liter.
According to an internal memo signed by Mohammed Bellow, the Manager, Sales to PPMC which was sent to distributors, the new price would take effect immediately today (5th of August, 2020).
This is expected to bring the cost of the pump price of petrol to the range of N145 – N155 per liter.
Read more at OYOGist.com:
For other commodities such as Automotive Gasoline Oil, AGO, commonly known as diesel, at N160 per liter and N165 per liter for Lagos and Oghara depots respectively.
The ex-depot price for kerosene was fixed at N160 per liter.
See the memo shared below:
Surprisingly, the Petroleum Products Pricing Regulatory Agency, PPPRA, the agency that sets the pricing of the product is yet to announce the new price changes.
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