Financial Energy Review
The ex-depot price of Premium Motor Spirit (PMS) otherwise know as petrol hits N151.56 per litre as against N143.50 in July and N148.50 per litre in August last month. As a result marketers have fixed pump price to be N162 per litre with a N10 margin to care of operational cost.
The Federal Government on Wednesday announced increment in the price of product saying it will now be sold for N151.56 per litre.
This was contained in a statement issued by the Pipelines and Product Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC).
A statement signed by D.O Abalaka, of PPMC said the new price takes effect from today Wednesday September 2.
It stated “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 (N151.56k) per litre.
“This takes effect from September 2, 2020.”
