The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex - depot price of Premium Motor Spirit , also known as petrol, to N 151. 56 per litre from N 138. 62 per litre.
This was disclosed in an internal memo from Ibadan depot to all stakeholders with reference number PPMC /IB /LS/020 dated September 2, 2020 and signed by D. O Abalaka.
The ex -depot price is the price at which the product is sold to marketers at the depots.
The memo, a copy of which was seen by our correspondent, said , “ Please be informed that a new product price adjustment has been effected on our payment platform .
” To this end , the price of Premium Motor Spirit ( PMS ) is now one hundred and fifty - one naira, fifty -six kobo ( N 151. 56k) per litre. This is effective from September 2, 2020. ”
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