Local: NNPC reduces again Ex-Depot Price of petrol to N108.00K per litre
The price has now been reduced from
N113.28k per litre to N108.00K per litre across all its products loading
facilities.
The announcement was made in a
statement issued by the corporation’s spokesman, Dr. Kenny Obateru in Abuja on
Wednesday.
The Nigerian National Petroleum
Corporation (NNPC) has announced a reduction in the ex-depot price of Premium
Motor Spirit (PMS).
He said the Managing Director of the
Petroleum Products Marketing Company (PPMC), Musa Lawan, disclosed that the new
ex-depot price of PMS reflects the company’s market strategy.
According to Dr. Kenny Obateru, the
strategy will help to make more sales while complying with the Petroleum
Products Pricing Regulatory Agency’s (PPPRA) price template.
Lawan explained that the new price
regime would enable PPMC to boost its sales volumes from the billions of litres
of Petrol it had in storage while providing affordable prices to millions of
customers.
He said the new price was arrived at
after extensive review of market realities by the PPMC internal price review
unit.
The PPMC boss, however, pointed out
that the price of Automotive Gas Oil (AGO), otherwise called diesel, which had
already been deregulated was determined by market forces.
On March 18, 2020, the NNPC reviewed
its PMS ex-coastal, ex-depot, and NNPC Retail pump prices.
Thus, effective March 19 NNPC
ex-coastal price for PMS was reviewed downwards from N117.6/litre to
N99.44/litre while the ex-depot price was reduced from N133.28/litre to
N113.28/litre.
Post a Comment