Petrol to hit N170 per litre as PPMC increases depot price again
Thompson Nsisongabasi
Nov 13, 2020
The Petroleum Products Marketing Company (PPMC) has again increased the ex-depot price of Premium Motor Spirit (PMS) petrol.
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A litre has been jerked up to N155.17 per litre from N147.67.
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PPMC is subsidiary of the Nigerian National Petroleum Corporation (NNPC).
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The new ex-depot price was contained in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020.
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The circular signed by Tijjani Ali said the change is effective Friday November 13.
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Ex-depot price is the cost the product is sold by the PPMC to marketers at the depots.
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The approximately N8 increment would cause an increase in pump prices to about N170 per litre nationwide.
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— Thompson Nsisongabasi