NNPC insists no increase in petrol depot price
Written by COMFORT 95.1FM on March 12, 2021
Nigerian National Petroleum Corporation has insisted that there is no increment in the ex-depot price of Premium Motor Spirit also known as petrol this month despite a template released by the Petroleum Products Pricing Regulatory Agency that the new price of petrol has reached two hundred and two naira six kobo per litre.
The ex-depot price is the price at which the product is sold by the NNPC to marketers at the depots.
The NNPC ruled out any increment in the ex-depot price in a terse tweet via its verified Twitter handle, @NNPCgroup this morning hours after the PPPRA released the template.
According to the template which the PPPRA released midnight, petrol is expected to sell at a lower retail price of two hundred and nine naira sixty-one kobo and at an upper retail price of two hundred and twelve naira sixty-one kobo.
Nigerian marketers usually use the upper band for pump price as the expected ex-depot price, as seen in the template, is two hundred and six naira forty-two kobo while the landing cost is one hundred and eighty-nine naira sixty-one kobo.