The Petroleum Products Marketing Company (PPMC) has again increased the ex-depot price of Premium Motor Spirit (PMS) petrol.
A litre has been jerked up to N155.17 per litre from N147.67.
The PPMC issued this in a circular dated on Thursday, November 12, 2020.
PPMC advised that the petroleum marketers to sell petrol within the range of N168 per litre to N170 per litre after a review of the prevailing market fundamentals for the month of November 2020 with effect from Friday, 13th November 2020.
PPMC is subsidiary of the Nigerian National Petroleum Corporation (NNPC).
The new ex-depot price was contained in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020,
The circular signed by Tijjani Ali said the change is effective Friday November 13.
Ex-depot price is the cost the product is sold by the PPMC to marketers at the depots.
The approximately N8 increment would cause an increase in pump prices to about N170 per litre nationwide.
