With effect from today, the Pipeline and Products Marketing Company (PPMC) has said that ex-depot price of a litre for Premium Motor Spirit (PMS), also known as petrol will now goes forN155.17, against the September adjustment price of N151.56 per litre.
What that means is that at current price of N159.58 per litre at filling station, a litre of fuel is expected to go for between N163.11 or N162.98 per litre.
PPMC in a memo to the marketers dated November 11, 2020, a copy which was made available to ENERGY TIMES, stated: “We propose PPMC November 2020 actual prices for PMS with effect from November 13, 2020 as follows; PPMC ex-coastal price N130.00, PPMC ex-depot price (with collection) N155.17.
Although some of the fuel stations visited this morning are yet to adjust to the new price regime, its anticipated that, an adjustment will be made before the end of the day.
One of the marketers who spoke to ENERGY TIMES confirmed a receipt of the memo but stated that his company’s management is yet to take decision on it.