NNPC announces N153.17 ex- depot price for petrol

NNPC announces N153.17 ex-depot price for petrol. (Newsghana)The Nigerian National Petroleum Corporation (NNPC) has announced N153.17 ex-depot price for Premium Motor Spirit (PMS) also known as petrol for the month of November. The corporation announced this in a statement signed by its spokesman, Dr Kennie Obateru, in Abuja on Friday. The ex-depot price is the amount at which the depot owners sells the commodity to retail outlets owners and fuel marketers across the country. He said: “ The correct prices, as can be seen on PPMC’s ‘Customer Express’ platform *online portal for procurement of petroleum products) * are: Ex- Coastal Price – N128, and Ex-Depot Price *with collection*– N153.17. ” Petroleum Products Marketing Company *LPMC* is a subsidiary of the NNPC.
He advised marketers to make their purchases through the online “Customer Express” platform (PPMCCustomer.Express/login/authenticate) at the recommended prices. He faulted the widely circulated memo in the media purporting an increase in the PPMC Ex-Coastal Price and Ex-Depot Price *with collection* to N130 and N155.17, respectively. “ We wish to clarify that there was a slight increase in the price based on the prevailing realities of market forces of demand and supply,” he stated. The News Agency of Nigeria ( NAN) reports that the PPMC did not make public the October ex- depot price but in September, it announced ex-depot price of N151.56k. The November price of N153.17 has an increment of N1.61 from the September price.