The Nigerian National Petroleum Corporation (NNPC), yesterday warned depot owners and terminal operators not to sell Premium Motor Spirit (PMS) above N133.28k per litre, which is the official ex-depot price.
The Corporation also cautioned petroleum products retailers not to sell the product above N145 per litre.
According to the state-oil-firm, the ex-depot price is the ceiling at which depot owners or terminal operators sell products to marketers, while the pump price of a product is the amount consumers buy it from fuel stations.
The corporation’s Group General Manager, Group Public Affairs Division, Ndu Ughamadu, said in a release that the subsisting ex-depot petrol price of N133.28k per litre was consistent with the Petroleum Products Pricing Regulatory Agency’s (PPPRA) template and should be adhered to.
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