Petrol ex-depot price now N153.17 - NNPC


The Nigerian National Petroleum Corporation (NNPC) said the petrol ex-depot price for Premium Motor Spirit, PMS, is now N153.17 in this month of November, 2020.

The corporation made the announcement in a statement signed by its spokesman, Dr Kennie Obateru, in Abuja on Friday.

Obateru in the statement explained ex-depot price as the amount at which the depot owners sells the commodity to retail outlets owners and fuel marketers across Nigeria.

“The correct prices, as can be seen on PPMC’s ‘Customer Express’ platform (online portal for procurement of petroleum products) are: Ex-Coastal Price – N128, and Ex-Depot Price (with collection) – N153.17," he said.

He urged marketers to make their purchases through the online “Customer Express” platform (PPMCCustomer.Express/login/authenticate) at the recommended prices and also frowned at the widely circulated memo in the media purporting an increase in the PPMC Ex-Coastal Price and Ex-Depot Price (with collection) to N130 and N155.17.

He said: "We wish to clarify that there was a slight increase in the price based on the prevailing realities of market forces of demand and supply."

NATIONAL PANEL gathered that the PPMC did not make public the October ex-depot price  but in September, it announced ex-depot price of N151.56k.

However, the November  price of N153.17 has an increament of N1.61 from the September price. -NAN.

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