The Nigerian National Petroleum Corporation (NNPC) says there will be no increase in the ex-depot price of petrol in March.
The corporation was reacting to a petrol pricing template published by the Petroleum Products Pricing Regulatory Agency (PPPRA).
The ex-depot price is the price at which depot owners sell the commodity to retail outlets.
JUST IN:#NNPC Insists No Increase in Ex-Depot Price of PMS in March pic.twitter.com/IQ3S3EWVlM
— NNPC Group (@NNPCgroup) March 12, 2021
Marketers add the cost of transporting the commodity from the depots to their retail outlets, in addition to other costs, such as marketers’ margin, among others to make the final retail price.
The PPPRA pricing template for March adjusted the recommended retail price of petrol from the previous N162 to N212 per litre.
According to the document, the landing cost of petrol is N189.61.
The ex-depot price was fixed at N206.42.
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