The Petroleum Products Marketing Company (PPMC) has fixed the ex-depot price for Premium Motor Spirit also known as petrol at 138 naira 62 kobo per litre.
According to a memo issued by the PPMC, a downstream subsidiary of the Nigerian National Petroleum Corporation, the new price will take effect from today August 5, 2020.
The memo states that the latest price which is what depot owners sell to retail outlets will reflect in the monthly pump pricing modulation for petroleum products this month.
The PPMC also put the ex-coastal price for the commodity at 113 naira 70 kobo, while the ex-depot price for diesel and kerosene stands at 160 naira per litre.
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