Sunday, November 29, 2020

NNPC Announces Ex-Tank Price N153.17 for Gasoline

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The Nigerian National Petroleum Corporation (NNPC) has announced the ex-tank price N153.17 for Premium Motor Spirit (PMS) also known as gasoline for the month of November.

The corporation announced this in a statement signed by its spokesman, Dr. Kennie Obateru, in Abuja on Friday.

The ex-tank price is the amount at which the tank owners sell the product to the owners of retail outlets and fuel marketers throughout the country.

He said: “The correct prices, as can be seen on PPMC’s ‘Customer Express’ platform (online portal for the acquisition 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 shop through the online platform “Customer Express” (PPMCCustomer.Express/login/authenticate) at recommended prices.

He blamed the widely circulated media memo that claimed an increase in PPMC’s ex-coastal price and the ex-deposit price (with charge) 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 the market forces of demand and supply,” he said.

The Nigerian News Agency (NAN) reports that the PPMC did not release the October ex-deposit price, but announced an ex-deposit price of N151.56k in September.

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

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