The Nigerian National Petroleum Corporation (NNPC) said on Friday it would sell the Premium Motor Spirit (PMS) at N153.17 per litre for oil marketers using its online platform to source for the product.
The Petroleum Products Marketing Company (PPMC) had earlier on Friday increased the ex-depot price of petrol to N155.17 per litre.
The development forced the Independent Petroleum Marketers Association of Nigeria (IPMAN) to direct its members to start selling the product from a price range of N168 per litre to N171 per litre.
However, the NNPC in a statement issued by its Group General Manager, Group Public Affairs, Mr. Kennie Obateru, said on the PPMC’s ‘Customer Express’ platform, the online portal for procurement of petroleum products, the product is sold at Ex-Coastal Price at N128, and Ex-Depot Price (with collection) at N153.17 per litre.
He urged oil marketers to purchase the product through the platform- PPMCCustomer.Express/login/authenticate – at the recommended prices.
Obateru said: “The NNPC is aware of a document widely circulating in the media purporting an increase in the PPMC Ex-Coastal Price and Ex-Depot Price (with collection) to N130 and N155.17 respectively and wishes to clarify that although there was a slight increase in the price based on the prevailing realities of market forces of demand and supply, the correct prices, as can be seen on PPMC’s ‘Customer Express’ platform (online portal for procurement of petroleum products) are: Ex-Coastal Price – N128, and Ex-Depot Price (with collection) – N153.17.”
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