The Nigerian National Petroleum Corporation (NNPC) has insisted that the ex-depot price of petrol will not be increased in March.
The corporation stated this in a tweet on Friday, in apparent reaction to the hike in the retail price of petrol announced by the Petroleum Product Pricing Regulatory Agency (PPPRA).
In a petrol pricing template published midnight Thursday on its website, PPPRA fixed the retail price of petrol for March between N209.61 and N212.61 per litre.
The agency also said that the expected ex-depot price, which is the rate marketers get the product, was fixed at N206.42.
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The ex-depot price is the most-important determinant of the retail price of the product.
However, the NNPC assured Nigerians that the ex-depot price would not be increased this month.
NNPC’s tweet read, “JUST IN: #NNPC Insists No Increase in Ex-Depot Price of PMS in March”.
See tweet:
JUST IN:#NNPC Insists No Increase in Ex-Depot Price of PMS in March pic.twitter.com/IQ3S3EWVlM
— NNPC Group (@NNPCgroup) March 12, 2021