FG Reduces Petrol Ex-depot Price To N138.62

The federal government of Nigeria has fixed the ex-depot price of premium motor spirit, PMS, also known as petrol, at N138.62 litre.

The Petroleum Products Marketing Company PPMC, made this known to the public in a memo in Abuja on Wednesday.

The memo, which was signed by Mohammed Bello, manager, sales, PPMC, revealed that the new prices of the ex-depot, which is the price at which depot owners sell the commodity to retail outlets, will come into effect from August 5, 2020.

With the latest development, it is expected that oil marketers would adjust pump price to between N145 and N155 per litre

PPMC also put the ex-depot price for automotive gasoline oil, AGO, also known as diesel, at N160 per litre and N165 per litre for depots in Lagos and Oghara, respectively, while ex-depot price for kerosene was put at N160 per litre. Follow us on Instagram @sofovilla | Follow us on Twitter @sofovilla | Like our page on Facebook via @sofovillamedia