The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to ₦151.56 per litre from ₦138.62 per litre.
This was disclosed in an internal memo from Ibadan depot to all stakeholders with reference number PPMC/IB/LS/020 dated September 2, 2020 and signed by D.O Abalaka.
The ex-depot price is the price at which the product is sold to marketers at the depots.
The memo notes “Please be informed that a new product price adjustment has been effected on our payment platform.
To this end, the price of Premium Motor Spirit (PMS) is now one hundred and fifty-one naira, fifty-six kobo (₦151.56k) per litre. This is effective from September 2, 2020.”
Adadayo Adelowo
pub-5160901092443552
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