…Consumers may pay N149/N150 per litre for petrol
The Petroleum Products Pricing Regulatory Agency (PPPRA) has increased the ex-depot price of petrol by adding N6 to N138.62 per litre from August 2020.
Fuel marketers disclosed that the latest increase in the ex-depot price of the petrol will make consumers buy a litre of petrol at N149 or N150 this month.
This confirmed some media reports earlier published on Monday that the price of fuel could rise to N150/litre according to the petrol price band released by the agency for the month.
However, the Vice President of the Independent petroleum Marketers Association of Nigeria, Abubakar Maigandi revealed that the PPPRA did not disclose the new pump price to the marketers.
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“They told us today (Tuesday) that the ex-depot price is now 138.62/litre but were silent on the pump price, and I think that by tomorrow (Wednesday) the pump price will be announced,” Maigandi said.
“With the N6/litre increase in ex-depot price, the projection is that the pump price will be around N149/litre or N150/litre, based on our usual computations,” he added.
In the course of contacting the public secretary of the PPPRA on the new pump price, Kimchi Apollo revealed that the agency had not decided on it.
The marketers disclosed that the previous ex-depot price was between N132/litre and N133/litre.
Reports gathered that petrol stations on Monday were jostling to stockpile products ahead of the announcement of a new pump price for petrol in August.
