Depot price of PMS remains N133.28 per litre, NNPC insists | Dailytrust

Depot price of PMS remains N133.28 per litre, NNPC insists

Oil marketers to get N236bn
Oil marketers to get N236bn

Nigerian National Petroleum Corporation says that the ex-depot price of Premium Motor Spirit (PMS) also known as petrol remains N133.28 per litre.

Mr Ndu Ughamadu, the NNPC Group Spokesman, disclosed this in an interview with the News Agency of Nigeria(NAN), in Abuja on Tuesday.

He said that Nigerians should ignore any specualtions that pump price will soon increase.

“The ex-depot price of PMS remains N133.28 per litre as at today and this is according to the Petroleum Products Pricing Regulatory Agency (PPPRA) template.

“NNPC remains the sole importer of the product and we have not increased the price we sell to marketer.

“There is no plan to increase pump price, Nigerians should know that,” he said.

He said that the corporation had robust stock pile of products that would last the country for several days, adding that there was no need to engage in panic buying.

He said that the corporation over the weekend had strengthen the partnership with Major Oil Marketer Association of Nigeria (MOMAN) to ensure adequate supply of products in the country.

“We also told them not to increase price but if they engage in that, it is illegal and we have instructed the Department of Petroleum Resources (DPR) to sanction them.
Members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) had recently warned that the pump price of the PMS may sell above N145.

The IPMAN Chairman of Ore Depot, Mr Shina Amoo, who gave this hint, added that the price of the product has increased at the private depot.

According to him, the private depot owners now sell the product between N136.50 and N137 per litre instead of the former N133.28 per litre approved by the NNPC.

“IPMAN may soon start selling beyond N145 per litre if depot owners continued to sell between N136.50 and N137 per litre,” he said (NAN)

Dear Reader,
Every day, we work hard to provide readers such as you with the most accurate, up-to-date, and comprehensive information. Quality journalism costs money. Today, we're asking that you support us to do more. Your support means that Daily Trust can keep offering journalism to everyone in the world. Sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Zenith Bank
1017257739
Media Trust Ltd


Please send details of your bank transfer to the email or Whatsapp number below so that we can contact you.

If you have any questions, please let us know.

Inquiries:
Email: membership@dailytrust.com
Whatsapp: +234 806 990 3410