…..as ex-depot price rises by N6
Federal Government has fixed ex-depot price of petroleum at N138.62, an increase of N6 from its previous N132 to N133.
The implication of this is that a litre of petrol may be increased from N143 to N149.
The new ex-depot price was contained in an internal memo by the Pipelines and Products Marketing Company obtained on Tuesday night.
Petroleum Products Pricing Regulatory Agency met with oil marketers on Tuesday afternoon, but the agency neither announced new pump price of petrol nor the ex-depot price of Premium Motor Spirit.
In the PPMC memo dated August 4, 2020 with reference number PPMC/CSD/DOM/0136 titled PPMC Petroleum Products Prices for August 2020, PPPRA also fixed Liquefied Natural Gas ex-depot price at N110.
The memo signed by the PPMC Sales Manager, Mohammed Bello, also fixed ex-coastal price of petroleum at N113.70.
President of Independent Petroleum Marketers Association of Nigeria, Chinedu Okonkwo, has confirmed the new fuel prices.