Petroleum Products Marketing Company, PPMC, a subsidiary of the NNPC has increased the retail pump price for petrol to N138.62 for August.
This was contained in a statement signed by the Manager of Sales, Mohammed Bello.
According to the statement, the new price changes would be effective from the 5th of August.
The PPMC further disclosed that the wholesale depot price would be sold to marketers at N113.70, while the retail prices were set at N138.62 per litre.
New Petrol Pump Price
However, fuel marketers are expected to sale the product at N145, as the price of petrol is being sold at N143.80 per litre before the new effective changes.
Other price announcements include Kerosene which would be sold for N160 at depots and diesel, which is set at N160 per litre in Lagos while at the Oghara depots it would be sold at N165 per litre.
PPMC is the downstream subsidiary of the Nigerian National Petroleum Corporation, NNPC.
Earlier in June 2020, the Petroleum Products Pricing Regulatory Agency (PPPRA) has announced the reduction of the petrol price to N121.50 per litre.
