The Nigerian National Petroleum Corporation (NNPC) has insisted that there is no increment in the ex-depot price of Premium Motor Spirit, also known as petrol, in March, despite a template released by the Petroleum Products Pricing Regulatory Agency (PPPRA) that the new price of petrol has reached N212.6 per litre.
The ex-depot price is the price at which the product is sold by the NNPC to marketers at the depots.
NNPC ruled out any increment in the ex-depot price of petrol on Friday in a post via its verified Twitter handle.
“#NNPC Insists No Increase in Ex-Depot Price of PMS in March,” it tweeted hours after the PPPRA released the template.
According to the template which the PPPRA released midnight, petrol is expected to sell at a lower retail price of N209.61 and at an upper retail price of N212.61. Nigerian marketers usually use the upper band for pump price.
The expected ex-depot price in the template, is N206.42, while the landing cost is N189.61.