The Petroleum Products Marketing Company (PPMC), a downstream subsidiary of Nigerian National Petroleum Corporation (NNPC) has fixed the ex-depot price of Premium Motor Spirit (PMS), at N138.62 per litre for August.
In a memo signed by Manager, Sales, PPMC, Mr. Mohammed Bello, revealed that the new price would come into effect from August 5, 2020.
The ex-depot price is the price at which depot owners sell the commodity to retail outlets.
The 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 further fixed the ex-depot price for kerosene at N160 per litre.
The Petroleum Products Pricing for Regulatory Agency (PPPRA) was yet to release the monthly pricing modulation for petroleum products for August.
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