The Nigerian National Petroleum Corporation (NNPC) has fixed the ex-depot price for Premium Motor Spirit (PMS) also known as petrol at N153.17 for the month of November.
NNPC announced the new price 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, according to PUNCH.
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.”
“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 increament of N1.61 from the September price.
