SAN FRANCISCO, November 13, (THEWILL) – The Nigerian National Petroleum Corporation (NNPC) says it is aware of a document widely circulating in the media on an increase in the PPMC Ex-Coastal Price and Ex-Depot Price (with collection) to N130 and N155.17 respectively and wishes to clarify that although there was a slight increase in the price based on the prevailing realities of market forces of demand and supply, the correct prices, as can be seen on the 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.
A statement by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, advised Marketers to make their purchases through the online “Customer Express” platform (PPMCCustomer.Express/login/authenticate) at the recommended prices.
The new increase in the price was greeted with uproar and push back from the public as well as oil retailers.
Following the deregulation of petrol prices in September, marketers across the country adjusted their pump price to between N158 and N162 per litre to reflect the increase in global oil prices.
Petrol price band had also risen from N121.50–N123.50 per litre in June to N140.80-N143.80 in July and N148-N150 in August.
