The ex-depot price for Premium Motor Spirit also known as petrol has been fixed at N138.62kobo per liter as directed by the Petroleum Products Marketing Company (PPMC).
Contained in a memo issued by the PPMC, a downstream subsidiary of the Nigerian National Petroleum Corporation, NNPC, the new price will take effect from Wednesday August 5, 2020.
Also, further directives according the PPMC, states that the latest price, which is what depot owners sell to retail outlets will take effect in the monthly pricing modulation for petroleum product this month.
Ex-depot price for Diesel and Kerosene stands at N160 per litre.