Fuel price to hit N155 as PPMC fixes ex-depot price at N138.62

Petrol nozzle

Petrol might sell for between N148 and N155 per litre, as the Petroleum Products Marketing Company, PPMC, one of the downstream subsidiaries of the Nigerian National Petroleum Corporation, NNPC, Tuesday, fixed the ex-depot price of Premium Motor Spirit, PMS, also known as petrol, at N138.62 per litre.

In a memo in Abuja, Manager Sales of the PPMC, Mr. Mohammed Bello, stated that the new price would come into effect from August 5, 2020.

He 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.

He further stated that the ex-depot price for Automotive Gasoline Oil (AGO) also known as diesel, would be at N160 per litre and N165 per litre, for depots in Lagos and Oghara respectively, while ex-depot price for kerosene would be N160 per litre.

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Source: SweetCrudeReport

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