#FuelPriceHike; NNPC Insists 'No Increase In Fuel Price This Month'

The Nigerian National Petroleum Corporation has insisted that there is no increment in the ex-depot price of Premium Motor Spirit also known as petrol this month despite a template released by the Petroleum Products Pricing Regulatory Agency 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. 

 The NNPC ruled out any increment in the ex-depot price on Friday in a terse tweet via its verified Twitter handle, @NNPCgroup. “#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, as seen in the template, is N206.42, while the landing cost is N189.61. 

 With ex-depot price standing at N206.42 per litre, the March template shows that the landing cost for petrol per litre is N189.61. 

 Details later…

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