Nigerians will pay between N168 and N170 for a litre of petrol from today as the new depot price for the product goes into effect.
The Petroleum Products Marketing Company (PPMC), a subsidiary of the NNPC, in a memo on 11 November set the ex-depot price of petrol to N155.17 per litre from N147.67 per litre.
The new price becomes effective today, according to the memo signed by Tijjani Ali.
An official of the Independent Petroleum Marketers Association of Nigeria, Mr. Mike Osatuyi, said the over N7 increase in ex-depot price would translate into an increase in pump prices.
“The implication of the increase in the ex-depot price is that there is going to be an increase in the pump price. We are expecting the pump price to range from N168 to N170 per litre,” Osatuyi said.
The ex-depot price is the price at which the product is sold by the PPMC to marketers at the depots.
You may be interested
Bauchi Emirate suspends former Speaker DogaraWebby - January 25, 2022
The Bauchi Emirate Council has suspended former Speaker of the House of Representatives Yakubu Dogara from bearing the traditional title…
At last, Bayelsa Commissioner regains freedomWebby - January 25, 2022
At Last, Bayelsa Commissioner Regains Freedom *Police Declares four wanted *Governor Diri Sacks Paramount Ruler, CDC, Youth Leaders Okafor Ofiebor/…
Heartbreaking! FCT Policemen Torture Man To Death Over Chinese Woman’s Car BatteryWebby - January 25, 2022
The victim According to a report by The PUNCH, the family of late Shedrach Ochoche has accused men of the…