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Ex-depot petrol price increase marginal, says NNPC

The Nigerian National Petroleum Corporation (NNPC) has said that the reported increase on ex-depot petrol price from N151 to N155.17 per litre is not correct as the hike was only marginal to N153.17.
The Corporation, in a reaction to reports that pump price of petrol is set to increase from N160/litre in most retail outlets to about N170/litre, said the new ex-depot price was a reflection of prevailing market price.

NNPC spokesman, Dr Kennie Obateru in the statement on Friday said the NNPC  “is aware of a document widely circulating in the media purporting an increase in the PPMC Ex-Coastal Price and Ex-Depot Price (with collection) to N130 and N155.17 respectively and wishes to clarify that although there was a slight increase in the price based on the prevailing realities of market forces of demand and supply, 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”.
 Obateru, advised Marketers to make their purchases through the online “Customer Express” platform (PPMCCustomer.Express/login/authenticate) at the recommended prices.

Written by ExpressDay

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