The Nigerian National Petroleum Corporation (NNPC) on Friday said the “slight increase” in the ex-coastal price and ex-depot price of Premium Motor Spirit, popularly known as petrol, is due to the fluctuating realities of demand and supply.
The NNPC’s position was made known in a statement signed by its spokesman, Kennie Obateru.
The Statement Reads:
NNPC Clarifies Increase in PMS Ex-Coastal, Ex-Depot Price of PMS
The Nigerian National Petroleum Corporation (NNPC) has said it 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.
A statement by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, advised Marketers to make their purchases through the online “Customer Express” platform (PPMCCustomer.Express/login/authenticate) at the recommended prices.