The downstream subsidiary of the Nigerian National Petroleum Corporation, Petroleum Products Marketing Company, PPMC, has fixed the price for which premium motor spirit, also known as petrol, is to be sold to retail outlets at N138.62 per litre.
This is contained in a memo signed by Company’s Manager in charge of Sales, Mohammed Bello, in Abuja on Tuesday.
It said the new price would come into effect from Wednesday, August 5.
The PPMC also put the price at which the product is sold to depot owners at N113.70 per litre.
The ex-depot price for automotive gasoline oil, also known as diesel, was fixed at N160 per litre and N165 per litre, for depots in Lagos and Oghara, whilekerosene will now sell for N160 per litre.
However, the Petroleum Products Pricing and Regulatory Agency is yet to release the monthly pricing modulation, which determines the pump price of petroleum products for August.
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