Abuja, March 12, 2021 The Nigerian National Petroleum Corporations (NNPC) says it has not increased the Ex-depot price of Premium Motor Spirit (PMS) also known as petrol.
The Group General Manager, Group Public Affairs Division of the Corporation, Dr Kennie Obateru, disclosed this while addressing newsmen in Abuja on Friday.
Ex-deport price is the price at which oil marketers buy products at the depots, the price is what determines the price at which petrol stations will sell to motorists.
He spoke while reacting to new PMS Pricing template released by the Petroleum Products Pricing Regulatory Agency (PPPRA) that indicted N212.61k Pumb price for the month of March.
We’ve not increased Ex-depot Price of Petrol – NNPC
On
A fuel pump (stock photo).
The Nigerian National Petroleum Corporations (NNPC) says it has not increased the Ex-depot price of Premium Motor Spirit (PMS) also known as petrol.
The Group General Manager, Group Public Affairs Division of the Corporation, Dr Kennie Obateru, disclosed this while addressing newsmen in Abuja on Friday.
Ex-deport price is the price at which oil marketers buy products at the depots, the price is what determines the price at which petrol stations will sell to motorists.
He spoke while reacting to new PMS Pricing template released by the Petroleum Products Pricing Regulatory Agency (PPPRA) that indicted N212.61k Pumb price for the month of March.
By Michael Eboh
The Federal Government has officially confirmed the return of fuel subsidy, as the Petroleum Products Pricing Regulatory Agency, PPPRA, yesterday, fixed the pump price of Premium Motor Spirit, PMS, also known as petrol, at N212.61 per litre, for the month of March.
The new price, according to the PPPRA’s PMS guiding price, released to stakeholders, is supposed to commence from March 1st and run till March 31st, 2021.
However, the fact that the price of the commodity is still been sold at an average of N170 in petrol stations across the country, meant that the Federal Government, through the Nigerian National Petroleum Corporation, NNPC is spending an average of N42 to subsidise a litre of the commodity for Nigerians.
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Sodiq Oyeleke
Published 12 March 2021
Long queues were witnessed in some filling stations around Lagos Mainland and Ikeja axis of Lagos State after the Petroleum Products Pricing Regulatory Agency announced an increase in the Ex-depot price of Premium Motor Spirit on Friday.
Ex-deport price is the price at which oil marketers buy products at the depots, the price is what determines the price at which petrol stations will sell to motorists.
The Petroleum Products Pricing Regulatory Agency had revealed in a new monthly template that the price of Premium Motor Spirit, also known as petrol, has reached N212.6 per litre.