PPMC Fixes Ex-Depot Price for Petrol at N138.62 Per Litre

The Petroleum Product Marketing Company (PPMC) has fixed the ex-depot price of Premium Motor Spirit (PMS), popularly known as Petrol, at N138.62 per litre.

PPMC, the downstream subsidiary of the Nigerian National Petroleum Corporation (NNPC) made this known in a memo signed by Mohammed Bello, the company's sales manager on Tuesday.

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

In recent times, the ex-depot price per litre of petrol has been around N15 lower than the pump price.

According to the memo, the new price is expected to take effect from August 5.

The ex-depot price change might cause the oil marketers to adjust their pump price to between N145 to N155 per litre.

The petroleum marketing company 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 diesel was fixed at N160 per litre and N165 per litre, for depots in Lagos and Oghara respectively.

Also, it fixed the ex-depot price for kerosene at N160 per litre.