Business
Petrol To Sell N170 As NNPC Hikes Depot Price
Petrol is to sell at an estimated N170/litre following a N7 increase in the depot price by the Nigerian National Petroleum Corporation, NNPC it emerged on Friday.
The Petroleum Products Marketing Company, which is a subsidiary of the NNPC increased the depot price of petrol from N155.17 per litre from N147.67 per litre.
That is the price at which the PPMC sells to dealers.
The implication according to industry experts is that the pump price would sell between N168 and N170.
The development was conveyed vide a circular to the depots signed by one Tijani Ali.
The internal memo with reference PPMC/C/MK/003, dated November 11, 2020, said the new price regime takes effect from Friday.
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