The Petroleum Products Marketing Company , a subsidiary of the Nigerian National Petroleum Corporation , has increased the ex -depot price of Premium Motor Spirit, also known as petrol , to N 151. 56 per litre from N 138. 62 per litre .
This was disclosed in an internal memo from Ibadan depot to all stakeholders with reference number PPMC / IB/ LS / 020 dated September 2 , 2020 and signed by D .O Abalaka .
The ex - depot price is the price at which the product is sold to marketers at the depots .
The memo , a copy of which was seen by our correspondent , said , “ Please be informed that a new product price adjustment has been effected on our payment platform.
” To this end , the price of Premium Motor Spirit ( PMS) is now one hundred and fifty - one naira , fifty - six kobo ( N 151 .56 k ) per litre . This is effective from September 2 , 2020
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