Petrol Price Won't Be Increased In May - NNPC

The Nigerian National Petroleum Corporation (NNPC) has said it will not increase the ex-depot price of Premium Motor Spirit (PMS) also known as petrol in May.

This was disclosed by the Group Managing Director of NNPC, Mele Kyari via the Corporation’s Twitter handle after a closed-door meeting with Petroleum Transport Drivers (PTD), National Association of Road Transporters Owners (NARTO) and oil marketers in Abuja on Monday.

#BREAKING:

Following GMD #NNPC Mallam @MKKyari's intervention in the National Association of Road Transport Owners (NARTO)/Petroleum Tanker Drivers (PTD) impasse, PTD has just announced the suspension of its planned strike until closure of discussion between both parties. pic.twitter.com/yNNSJCuMVB

— NNPC Group (@NNPCgroup) April 19, 2021

Ex-depot price is the cost of petrol at depots, from where filling stations purchase the commodity before dispensing to final consumers. NNPC is the sole importer of petrol into Nigeria for more than three years now.

Kyari had last month disclosed that the current market price of petrol had risen to N234 per litre, far above the average pump price of N163 per litre across petrol stations in the country.

Kyari also added that Petroleum Tanker Drivers had suspended their proposed strike after the intervention of NNPC in the impasse between the PTD and the National Association of Road Transport Owners.

“We have given our commitment to both NARTO and PTD that we will resolve the underlining issue between them and come back to the table within a week so that we’ll have a total closure of the dispute,” he added.