The Petroleum Products Marketing Company (PPMC), a subsidiary of the downstream subsidiary of Nigerian National Petroleum Corporation (NNPC), has said the new ex-depot price for premium motor spirit (PMS), otherwise known as petrol will take effect today, August 5.
The PPMC recently put the new ex-depot price, which is the price at which depot owners sell the commodity to retail outlets at N138.62 per litre.
The News Agency of Nigeria (NAN) reports that the new price was contained in a memo signed by PPMC’s Manager, Sales, Mohammed Bello, in Abuja, on Tuesday.
The Company also put the ex-coastal price of the PMS, which is the price at which the product is sold to depot owners, at N113.70 per litre. Also, the ex-depot price for automotive gasoline oil (AGO), also known as diesel, was fixed at N160 per litre.
Depot in Lagos and Oghara will get the product at N165 per litre, while the ex-depot price for kerosene is N160 per litre.