JUST IN: PPMC Raises Petrol Depot Price To N151.56 Per Litre

The Petroleum Products Marketing Company, has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N151.56 per litre.

The PPMC, which is a subsidiary of the Nigerian National Petroleum Corporation raised the price from N138.62 per litre which it was previously.

This was disclosed in an internal memo to all stakeholders with reference number PPMC/IB/LS/020 dated September 2, 2020.

The ex-depot price is the price at which the product is sold to marketers at the depots.

The memo stated that the new price will take effect from September 2, 2020.

It reads “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 (N151.56k) per litre. This takes effect from September 2, 2020.”