Petrol: PPMC fixes ex-depot price at N138.62 per litre

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The downstream subsidiary of Nigerian National Petroleum Corporation (NNPC) otherwise called Petroleum Products Marketing Company (PPMC), has fixed the ex-depot price of premium motor spirit (PMS) also known as petrol at N138.62 per litre.

PPMC, in a memo by its Manager, Sales, Mohammed Bello, in Abuja on Tuesday, said the new price would come into effect from August 5.

The ex-depot price is the price at which depot owners sell the commodity to retail outlets.

PPMC also put the ex-coastal price of the commodity, which is the price at which the product is sold to depot owners, at N113.70 per litre.

The ex-depot price for automotive gasoline oil (AGO), also known as diesel, was fixed at N160 per litre and N165 per litre, for depots in Lagos and Oghara respectively.

It, besides, fixed the ex-depot price for kerosene at N160 per litre.

News Agency of Nigeria (NAN) reported that the Petroleum Products Pricing for Regulatory Agency (PPPRA) was yet to release the monthly pricing modulation for petroleum products for August.

The pricing modulation would determine the pump price that the products would be sold to motorists.

Some analysts have, however, speculated that Nigerians may pay N150 or more per litre of petrol for the month of August.

Idowu Sowunmi