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Home Business News

#Fuelpricehike: NNPC insists no increase in ex-depot price in March

Abiola OdutolabyAbiola Odutola
2 years ago
in Business News, Energy, Spotlight
Petrol prices, Closure of border petrol stations lowers fuel consumption by 30% - Customs Boss, BREAKING: FG approves reduction in pump price of petrol

Average Petrol prices

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The Nigerian National Petroleum Corporation (NNPC) has insisted that the ex-depot price of Premium Motor Spirit (PMS), popularly known as Petrol, will not be increased in March.

This was disclosed by the corporation via its Twitter handle on Friday.

Contrary to the PPRA template, which was released earlier on Friday, NNPC assured Nigerians that there wont be any increase in the price of petrol in March.

READ: IPMAN orders fuel marketers to sell fuel at old rate until new directive from PPPRA

JUST IN:#NNPC Insists No Increase in Ex-Depot Price of PMS in March pic.twitter.com/IQ3S3EWVlM

— NNPC Group (@NNPCgroup) March 12, 2021

READ: Oil marketers say non availability of forex still affecting importation of petrol

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

According to PPPRA template, 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.

READ: NNPC GMD says AKK pipeline, Nigeria’s biggest gas project is 15% complete

 

 

 

 

 

 

 

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Tags: #fuelpricehikeBusiness NewsFeaturedFuel PriceNational Petroleum Corporation (NNPC)Nigeria News

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