Connect with us

    Hi, what are you looking for?

    News

    #FuelPriceHike: NNPC Insists No Increase in Petrol Depot Price

    The Nigerian National Petroleum Corporation has insisted that there is no increment in the ex-depot price of Premium Motor Spirit also known as petrol this month despite a template released by the Petroleum Products Pricing Regulatory Agency that the new price of petrol has reached N212.6 per litre.

    The ex-depot price is the price at which the product is sold by the NNPC to marketers at the depots.

    The NNPC ruled out any increment in the ex-depot price on Friday in a terse tweet via its verified Twitter handle, @NNPCgroup.

    “#NNPC Insists No Increase in Ex-Depot Price of PMS in March,” it tweeted hours after the PPPRA released the template.

    According to the template which the PPPRA released midnight, petrol is expected to sell at a lower retail price of N209.61 and at an upper retail price of N212.61. Nigerian marketers usually use the upper band for pump price.

    The expected ex-depot price, as seen in the template, is N206.42, while the landing cost is N189.61.

    With ex-depot price standing at N206.42 per litre, the March template shows that the landing cost for petrol per litre is N189.61.

    Loading

    Spread the love
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    News

    Nigeria Civil Aviation Authority (NCAA) has dismissed recent claims by Senator Orji Uzor Kalu alleging lapses in pilot preparation, substance abuse among flight crews,...

    Tech

    OpenAI Chief Executive Officer, Sam Altman, has announced a major policy shift for the company’s flagship chatbot, ChatGPT, revealing plans to relax content restrictions...

    News

    Sultan of Sokoto, Alhaji Sa’ad Abubakar III, has called for the regulation of social media in Nigeria, warning that its unrestrained use poses a...

    Cryptocurrency

    A British court has received access to an additional £67 million in cryptocurrency from Zhimin Qian, also known as Yadi Zhang, the convicted mastermind...