Wednesday, 5 August 2020

Petrol May Sell For N149 In Few Days As FG Increases Depot Price



The Federal Government has fixed ex-depot price of petroleum at N138.62, an increase of N6 from its previous N132 – N133. This means a litre of petrol may be increased from N143 to N149.

The new ex-depot price was contained in an internal memo by the Pipelines and Products Marketing Company seen by our reporter yesterday night.

Though the Petroleum Products Pricing Regulatory Agency met with oil marketers Tuesday afternoon, it neither announced new pump price of petrol nor the ex-depot price of Premium Motor Spirit. In the PPMC memo dated August 4, 2020 with reference number PPMC/CSD/DOM/0136 titled PPMC Petroleum Products Prices for August 2020, the agency also fixed Liquefied Natural Gas ex-depot price at N110.

The memo which was signed by the PPMC sales manager, Mohammed Bello, also fixed ex-coastal price of petroleum at N113.70. The president of Independent Petroleum Marketers Association of Nigeria (IPMAN) Chinedu Okonkwo, confirmed the new prices to Daily Trust last night.



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