Business
BREAKING: NNPC Increases Petrol Depot Price
NOVEMBER 13, 2020
… Marketers to sell at ₦168 – ₦170/litre
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 ₦155.17 per litre from ₦147.67 per litres.
PUNCH reports that the PPMC disclosed this in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020, and signed by Tijjani Ali.
The new price will take effect from Friday (today).
Read also: Again, Nigeria Govt Raises Petrol Pump Price
The ex-depot price is the price at which the product is sold by the PPMC to marketers at the depots.
In its PMS price proposal for November, the PPMC put the landing cost of petrol at ₦128.89 per litre, up from ₦119.77 per litre in September/October.
It said the estimated minimum pump price of the product would increase to ₦161.36 per litre from ₦153.86 per litre.
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