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November 30, 2020

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The Nigerian National Petroleum Corporation (NNPC) has announced N153.17 ex-depot price for petrol for the month of November.

The corporation announced this in a statement signed by its spokesperson, Kennie Obateru, in Abuja on Friday.
The ex-depot price is the amount at which the depot owners sell the commodity to retail outlets owners and fuel marketers across the country.

He said: “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.”

Petroleum Products Marketing Company (PPMC) is a subsidiary of the NNPC.

He advised marketers to make their purchases through the online “Customer Express” platform (PPMCCustomer.Express/login/authenticate) at the recommended prices.

He faulted the widely circulated memo in the media showing an increase in the PPMC Ex-Coastal Price and Ex-Depot Price (with collection) to N130 and N155.17, respectively.

“We wish to clarify that there was a slight increase in the price based on the prevailing realities of market forces of demand and supply,” he stated.

The News Agency of Nigeria reports that the PPMC did not make public the October ex-depot price but in September, it announced ex-depot price of N151.56k.

The November price of N153.17 has an increment of N1.61 from the September price.



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