…Says No Increase In Ex-depot Price Of Petrol In March
The Nigerian National Petroleum Corporation, NNPC, debunked the story making the rounds about hike in pump price of a litre of petrol to N212, saying that there will be no increase in the ex-depot price of petrol in March.
The NNPC was reacting to a petrol pricing template published by the Petroleum Products Pricing Regulatory Agency, PPPRA.
The ex-depot price is the price at which depot owners sell the commodity to retail outlets; as marketers add the cost of transporting the commodity from the depots to their retail outlets, in addition to other costs, such as marketers’ margin, among others to make the final retail price.
The PPPRA pricing template for March had adjusted the recommended retail price of petrol from the previous N162 to N212 per litre.
According to the document, the landing cost of petrol is N189.61.
The ex-depot price was fixed at N206.42.
