Lagos — 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 N151.56 per litre.
The directive was contained in an internal memo from Ibadan with reference number PPMC/IB/LS/020 dated September 2, 2020, and signed by D.O Abalaka.
The old price was N138.62 per litre.
The ex-depot price is the price at which the product is sold to marketers at the depots.
“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 is effective from September 2, 2020,” the memo said.