Marketers to sell fuel at N168 to N170 per litre

Post created on 9:09 am

The Petroleum Products Marketing Company, PPMC a subsidiary of the Nigerian National Petroleum Corporation, NNPC, has increased the ex-depot price of Premium Motor Spirit, also known as petrol, from N147.67 per litre to N155.17 per litre.

The PPMC disclosed this in an internal memo dated November 11, 2020, signed by Tijjani Ali explaining that landing cost increased by N9.12 to N128.89 per litre, up from N119.77 per litre.

The National Operation Controller, Independent Petroleum Marketers Association of Nigeria, IPMAN, Mr Mike Osatuyi, in a telephone interview, said the over N7 increase in ex-depot price would translate into an increase in pump prices within the range of N168 to N170 per litre.