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Petrol To Hit N170 Per Litre As PPMC Increases Depot Price Again

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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.

[READ ALSO] Lagos Judicial Panel dragged to court over probe of Lekki shooting

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.

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