Petroleum Products Marketing Company, PPMC, a subsidiary of the NNPC has announced the increment in the pump price of petrol at N138.62 for August.
This was made known in a statement signed by the Manager of Sales, Mohammed Bello who said that the new price changes would be effective from the 5th of August.
It was reported some times that the Petroleum Products Pricing Regulatory Agency (PPPRA) reduced petrol price to N121.50 per litre.
“After a review of prevailing market fundamentals in the month of May and considering marketers realistic operating costs as much as practicable, we wish to advise of a new PMS guiding pump price with the corresponding ex-depot price for the month of June 2020, as follows; price band N121.50 – N123.50 per liter,” the body had said.
The PPMC also disclosed in today’s statement that the wholesale depot price would be sold to marketers at N113.70, while the retail prices were set at N138.62 per litre.
However, fuel marketers are expected to adjust to the new changes by selling at N145, as the price of petrol is being sold at N143.80 per litre before the new effective changes.
Other price announcements include Kerosene which would be sold for N160 at depots and diesel, which is set at N160 per litre in Lagos while at the Oghara depots it would be sold at N165 per litre.
