FG cuts N2 from new pump price, petrol to sell at N170.17

With this new price, a litre of petrol will now sell at between N166.17 and N170.17

The Nigerian National Petroleum Corporation (NNPC) has cut N2 from N155.17 ex-depot price of petrol earlier announced on Friday.

With this new price, a litre of petrol will now sell at between N166.17 and N170.17 across the country.

The state oil company announced the reduction in a statement on Friday night.

“NNPC is aware of a document widely circulating in the media purporting an increase in the PPMC Ex-Coastal Price and Ex-Depot Price (with collection) to N130 and N155.17 respectively and wishes to clarify that although there was a slight increase in the price based on the prevailing realities of market forces of demand and supply, the correct prices, as can be seen on PPMC’s “Customer Express” platform (online portal for procurement of petroleum products) are: Ex-Coastal Price – N128, and Ex-Depot Price (with collection) – N153.17,” the statement said.

The statement by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, advised marketers to make their purchases through the online “Customer Express” platform
(PPMCCustomer.Express/login/authenticate) at the recommended prices.