Nigerian National Petroleum Corporation (NNPC) has announced a reduction in the ex-depot price of petrol and all its products loading facilities.
With the new price regime, it’s expected that pump price will be reviewed downward.
Though a specific pump price has not been agreed, however in the last few years the difference between the ex-depot price and the pump price of petrol is usually around N9 per litre. This has led to guesswork price of petrol at N117 by the end of the week.
A release Wednesday, in Abuja by Group General Manager, Group Public Affairs Division NNPC, Dr. Kennie Obateru, said the N108 new PPMC ex-depot price of PMS from N113.28 is a marketing strategy to make more sales while complying with PPPRA price template.
We reviewed the ex-depot prices to enable us make more sales.
“For AGO, it’s a deregulated product and as such its prices are determined by market forces.”
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