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.

Click to comment

Leave a Reply

Your email address will not be published.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

ad

You May Also Like

Tech

Sophos, a global leader of innovative security solutions for defeating cyberattacks, today announced that Joe Levy is now chief executive officer (CEO) of the...

Entertainment

In celebration of Africa Day on May 25, Instagram has launched its international and pan-African campaign ‘Made By Africa, Loved by the World’. In...

Tech

Trend Micro Incorporated, a global cybersecurity leader, has revealed that it blocked around 18 million email threats, almost two million malicious URLs and over...

Tech

As the curtains rose on the grand spectacle of the 10th Africa Magic Viewers’ Choice Awards (AMVCA), TECNO again took centre stage, illuminating the...