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#FuelPriceHike: No Increase In Petrol Ex-Depot Price – NNPC Insists

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NNPC

The Nigerian National Petroleum Corporation (NNPC) has insisted that there is no increase in the ex-depot price of Premium Motor Spirit also known as petrol this month.

This is despite a template released by the Petroleum Products Pricing Regulatory Agency (PPPRA) that the new price of petrol has reached N212.6 per litre.

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

In a post on its verified Twitter handle on Friday, the NNPC ruled out any increment in the ex-depot price.

“#NNPC Insists No Increase in Ex-Depot Price of PMS in March,” the agency tweeted hours after the PPPRA released the template.

The PPPRA had announced late Thursday that the retail price for a litre of petrol for the month will be between N209.61 and N212.61.

According to the PPPRA, the ex-depot price, which is the amount sold by fuel depot owners to marketers, will be N206.42, while the landing cost stands at N189.61 per litre.

There had been concerns the government, which says it has deregulated the sector and no longer pays subsidy, would raise rates as crude oil prices have seen a rebound in the global market.

Source: Naija News

Ogbolu George is a graduate of Mass Communication from the University of Benin. He loves politics, is a movie addict and a die-hard Arsenal fan. George is a Senior Content Creator at Naija News.

1 Comment

1 Comment

  1. gabriel idoko

    12 March 2021 at 12:20 PM

    The Buhari led administration is the worst in the history of Nigeria as a nation. Everything has skyrocket: electricity tariff, fuel price, the naira highly devalued, foodstuffs. The same finger he pointed at the Jonathan administration is starring him in the face today. The same living God that has kept us alive today to withstand all these heartache is more than enough and able to keep us till this government is jetted out of seat in 2 years. No one can turn back the hands of time. Let the cabals continue to play around him and sycophants continue to do what they know best. What does the APC government have to offer?Their cup will surely get filled in the not-too distant future to come. We are marking time and still counting. We will surely get there. God bless Nigeria.

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