The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has announced an increment in the ex-depot price of Premium Motor Spirit, also known as petrol, from N147.67 to N155.17 per.
The new price which is expected to take effect from today, Friday Nov. 13 2020 was made known by the company in a memo signed by Tijani Ali
Meanwhile, the National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi, has said that the increase in ex-depot price simply means that Nigerians would buy petrol at an increased price.
“The implication of the increase in the ex-depot price is that there is going to be an increase in the pump price. We are expecting the pump price to range from N168 to N170 per litre,” he stated.
