Petrol Price Increases In Price Again From Today
Nigerians will pay between N168 and N170 for a litre of petrol from today as the new depot price for the product goes into effect.
Joy Kalu 
Petroleum Products Marketing Company (PPMC) has again increased the ex-depot price of Premium Motor Spirit (PMS) petrol.
A litre has been surged up to N155.17 per litre from N147.67.
PPMC is subsidiary of the Nigerian National Petroleum Corporation (NNPC).
The new ex-depot price was contained in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020, according to Punch.
The circular signed by Tijjani Ali said the change is effective Friday, November 13.
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An official of the Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi, said the over N7 increase in ex-depot price would translate into an increase in pump prices.
“The implication of the increase in the ex-depot price is that there is going to be an increase in the pump price. We are expecting the pump price to range from N168 to N170 per litre”.
Ex-depot price is the cost the product is sold by the PPMC to marketers at the depots.
The approximately N8 increment would cause an increase in pump prices to about N170 per litre nationwide.
