Downstream subsidiary of Nigerian National Petroleum Corporation, NNPC, Petroleum Products Marketing Company, PPMC, has fixed the ex-depot price of premium motor spirit, PMS, known as petrol at N138.62 per litre.
PPMC made this disclosure on Tuesday in a memo signed by its Sales Manager, Mohammed Bello, in Abuja.
The ex-depot price is the price at which depot owners sell the commodity to retail outlets.
It however stated that the new price of the product would come into effect from 5 August.
The PPMC also put the ex-coastal price of the commodity, which is the price at which the product is sold to depot owners, at N113.70 per litre.
The ex-depot price for automotive gasoline oil (AGO), also known as diesel, was fixed at N160 per litre and N165 per litre, for depots in Lagos and Oghara respectively.
It further fixed the ex-depot price for Dual Purpose Kerosene, DPK at N160 per litre.
The Petroleum Products Pricing for Regulatory Agency, PPPRA was yet to release the monthly pricing modulation for petroleum products for August.
The pricing modulation determines the pump price that the products will be sold to motorists.