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NNPC reveals breakdown of not increasing Ex-depot Price of Petrol

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.

Petrol price hike: Queues persist despite reversal

• NNPC Assures Of Adequate Supply Of Product • PPPRA Deletes Template Announcing N212.68 /Litre Pump Price • Hike Can Attract Mass Protest, PDP Cautions In what appeared to be the most uncoordinated situation by agencies under the Ministry of Petroleum Resources, headed by President Muhammadu Buhari, confusion, panic-buying and an attempt to profiteer by marketers ruled the pump price of Premium Motor Spirit (PMS), otherwise called petrol, yesterday, following a template released by the Petroleum Products Pricing Regulatory Agency (PPPRA), which increased petrol pump price to N212.68 per litre. x Long queues, traffic jam, an increase in the cost of transportation and the immediate shutdown of most petrol stations were the result of the situation across most parts of the country. However, the Minister of State for Petroleum Resources, Timipre Sylva, Nigerian National Petroleum Corporation (NNPC) and PPPRA tried to manage the situation, in

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