A litre of premium motor spirit, otherwise known as petrol, may sell between N168 to N170 from tomorrow, an internal memo from product price regulator has indicated.
The Pipeline Products Marketing Company (PPMC) had on Thursdays released a new pricing template for the product, pegging Ex-depot price of petrol to N155.17 for the month of November
Recall in October, the price was unchanged and traded at 151.56 per litre as set by PPMC in September. At that price, pump price of fuel was sold at N162 or less depending on fuel station.
According to an internal memo signed by Alhaji Tijani R, the new pricing will take effect from November 13, 2020 and translate to a price hike for the product.
“The EDC may please refer to the Management directives in respect of the above subject as per the attached memo,” reads the memo in part.
“In line with the above, we propose PPMC November 2020 actual prices for PMS with effect from 13 November, 2020 as follows,” the memo said.
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