#FuelPriceHike: No Increase In Petrol Ex-Depot Price – NNPC Insists

The Nigerian National Petroleum Corporation (NNPC) has insisted that there is no increase in the ex-depot price of Premium Motor Spirit also known as petrol this month.

This is despite a template released by the Petroleum Products Pricing Regulatory Agency (PPPRA) that the new price of petrol has reached ₦212.6 per litre.

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

In a post on its verified Twitter handle on Friday, the NNPC ruled out any increment in the ex-depot price.

“#NNPC Insists No Increase in Ex-Depot Price of PMS in March,” the agency tweeted hours after the PPPRA released the template.

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

— NNPC Limited (@nnpclimited) March 12, 2021

The PPPRA had announced late Thursday that the retail price for a litre of petrol for the month will be between ₦209.61 and ₦212.61.

According to the PPPRA, the ex-depot price, which is the amount sold by fuel depot owners to marketers, will be ₦206.42, while the landing cost stands at ₦189.61 per litre.

There had been concerns the government, which says it has deregulated the sector and no longer pays subsidy, would raise rates as crude oil prices have seen a rebound in the global market.