#FuelPriceHike: Petrol Depot Price Will Not Increase In March, NNPC Insists

• The Nigerian National Petroleum Corporation (NNPC) has insisted that the depot price of Premium Motor Spirit, also known as petrol, will remain unchanged in March.
• This is coming after the Petroleum Products Pricing Regulatory Agency (PPPRA) fixed the pump price of petrol at N212.61 per litre on Thursday.

The Nigerian National Petroleum Corporation (NNPC) has insisted that the depot price of Premium Motor Spirit, also known as petrol, will remain unchanged in March.

This is coming after the Petroleum Products Pricing Regulatory Agency (PPPRA) fixed the pump price of petrol at N212.61 per litre on Thursday.

However, the NNPC, in a tweet, Friday, wrote, “JUST IN: #NNPC Insists No Increase in Ex-Depot Price of PMS in March”.

JUST IN:#NNPC Insists No Increase in Ex-Depot Price of PMS in March pic.twitter.com/IQ3S3EWVlM

— NNPC Limited (@nnpclimited) March 12, 2021

The Nigerian government had on Thursday increased the pump price of petrol to N212.61 a litre, less than two weeks after assuring the nation there would be no hike.

The Petroleum Products Pricing Regulatory Agency (PPPRA) made the announcement late Thursday that the retail price for a litre of petrol for the month will be between N209.61 and N212.61.

EKO HOT BLOG on Wednesday reported that the federal government had planned to reduce petrol price to N100 per litre.

The ex-depot price, which is the amount sold by fuel depot owners to marketers, will be N206.42, while the landing cost stands at N189.61 per litre, the agency said.

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