#FuelPriceHike: No Increase In Petrol Ex-Depot Price - NNPC Insists
Thompson Nsisongabasi
Mar 12, 2021
The Nigerian National Petroleum Corporation (NNPC) has insisted that there is no increase in the ex-depot price of Premium Motor Spirit also known as petrol this month.
This is despite a template released by the Petroleum Products Pricing Regulatory Agency (PPPRA) that the new price of petrol has reached N212.6 per litre.
READ ALSO: Sowore's Miscalculation and the Need to beat a Wise Retreat
The ex-depot price is the price at which the product is sold by the NNPC to marketers at the depots.
READ ALSO: Why El-Rufai Was Returned To ICPC Custody?
In a post on its verified Twitter handle on Friday, the NNPC ruled out any increment in the ex-depot price.
READ ALSO: ALL FOR PEACE, CATHOLIC POPE KISSES THE FEET OF SOUTH SUDANESE LEADERS (WATCH VIDEO)
"#NNPC Insists No Increase in Ex-Depot Price of PMS in March,ÔÇØ the agency tweeted hours after the PPPRA released the template.
READ ALSO: Pochettino's 19-year-old son signs new deal at Tottenham
The PPPRA had announced late Thursday that the retail price for a litre of petrol for the month will be between N209.61 and N212.61.
According to the PPPRA, 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.
READ ALSO: W0W! Swizz Beatz And Timbaland Sell Verzuz To Triller
There had been concerns the government, which says it has deregulated the sector and no longer pays subsidy, would raise rates as crude oil prices have seen a rebound in the global market.
Related Stories
REVEALED: How All Progressives Congress (APC) Played Into The Opposition Hands Ahead Of 2027 - Sumner Sambo Warns
I Will Not Allow Criminality As President, Peter Obi Declares
Why El-Rufai Was Returned To ICPC Custody?
Sowore's Miscalculation and the Need to beat a Wise Retreat
Tinubu Breaks Silence on Hardship, Inflation, Power Crisis - Vows Nigeria Will Overcome Economic Storm
"Terrorists Have Outgunned Our TroopsÔÇØ - Ndume Raises Alarm Over Boko Haram War, Sends Urgent Message To Tinubu
""
— Thompson Nsisongabasi