The Petroleum Products Marketing Company (PPMC) has raised the ex-depot price of premium motor spirit also known as petrol to N151.56 per litre from N138.62 per litre.
PPMC is a subsidiary of the Nigerian National Petroleum Corporation (NNPC).
The company made this known in an internal memo dated September 2 and signed by D.O Abalaka from Ibadan depot to all stakeholders.
The ex-depot price is the price at which the product is sold to marketers at the depots.
The memo read: “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 is effective from September 2, 2020.”