NNPC Sets Depot Price of Petrol at N138.62 Per Litre

ex-Depot price

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.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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