The Petroleum Products Marketing Company (PPMC) has increased the ex-depot price of Premium Motor Spirit (PMS) petrol.
PPMC, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has put the price of a litre of petrol at N155.17 per litre from N147.67.
The new ex-depot price was contained in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020.
The circular signed by Tijjani Ali said the change is effective Friday, November 13.
Ex-depot price is the cost the PPMC sells petroleum to marketers at the depots.
This N8 increment would cause an increase in pump prices to about N170 per litre nationwide.