By Adedapo Adesanya
- PPPRA yet to set pump price for the Month of August
The Nigerian National Petroleum Corporation (NNPC), through its downstream subsidiary, Petroleum Products Marketing Company (PPMC), has fixed the ex-depot price of premium motor spirit (PMS), commonly known as petrol, at N138.62 per litre for the month of August.
This was disclosed by the subsidiary’s Sales Manager, Mr Mohammed Bello, in a memo signed on Tuesday, August 4, 2020, in the Federal Capital Territory (FCT) Abuja.
The ex-depot price is the price at which depot owners sell the commodity to retail outlets.
According to the NNPC subsidiary, the new price regime would come into effect from today, Wednesday, August 5.
The PPMC also put the ex-coastal price of the commodity, which is the price at which the product is sold to depot owners, at N113.70 per litre.
The ex-depot price for automotive gasoline oil (AGO), also known as diesel, was fixed at N160 per litre and N165 per litre, for depots in Lagos and Oghara, Delta State respectively.
It further fixed the ex-depot price for kerosene at N160 per litre.
This happened as the Petroleum Products Pricing for Regulatory Agency (PPPRA) was yet to release the monthly pricing modulation for petroleum products for August.
The pricing modulation determines the pump price that the products will be sold to motorists and other consumers of the commodity at fuelling stations across the country.
Dipo Olowookere