Petrol Pump Price: ‘Slight Increase’ Is Due To Demand And Supply – NNPC

NNPC

NOVEMBER 14, 2020

The Nigerian National Petroleum Corporation (NNPC), on Friday, said the “slight increase” in the ex-coastal price and ex-depot price of Premium Motor Spirit, widely known as petrol, is due to the “prevailing realities of market forces of demand and supply.” 

The NNPC made its position known in a statement signed by its Group General Manager, Public Affairs Division, Kennie Obateru.

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The corporation said the correct prices, as seen on the Pipelines and Product Marketing Company’s online portal for procurement of petroleum products are: ₦128 for Ex-Coastal Price and ₦153.17 and Ex-Depot Price (with collection).

Obateru further advised petrol marketers to make their purchases through the online PPMC platform at the recommended prices.

The ex-coastal and ex-depot prices are expected to impact on pump prices nationwide.

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