The Petroleum Products Marketing Company (PPMC) in the country has announced that the pump price of fuel will now sell between N145 to N155per litre in few days.
The development was sequel to the adjustment of the ex-depot price of Premium Motor Spirit, PMS, also known as petrol, at N138.62 per litre by the Nigerian National Petroleum Corporation, NNPC, the Petroleum Products Marketing Company, PPMC.
The Petroleum Products Pricing Regulatory Agency, PPPRA,the agency vested with the duty of disclosing the new pump price had kept sealed lips for days apparently due to the criticisms that would greet the action.
A memo by Mohammed Bello, Manager Sales, the PPMC,said that the new ex-depot price of fuel would come into effect from August 5, 2020.
The agency 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 PPMC also fixed the ex-depot price for Automotive Gasoline Oil, AGO, also known as diesel, at N160 per litre and N165 per litre, for depots in Lagos and Oghara respectively, while ex-depot price for kerosene was put at N160 per litre.