Daily Global News reports, that the agency of government in charge of premium motor spirit, PMS, know as petrol is likely to be sold between N168 to N170 as the case may be from today according to an internal memo from the regulatory of the product pricing as indicated on the memo.
The regularly body, Pipeline Products Marketing Company, PPMC, on Thursday gave a new template regarding the product pricing pegging Ex-depot price of Petrol to N155.17 for the month of November.
Daily Global News recalling your attention that in October, the price was unchanged and traded at N151.56 per litre as set by PPMC in September. While the product pump price of Petrol was sold at N162 or less depending on the fuel station.
The internal memo signed by Alhaji Tijani R, the new pricing will take effect from November 13, 2020 and translate to a price hike for the product.
“The EDC may please refer to the Management directives in respect of the above subject as per the attached memo,” reads the memo in part.
“In line with the above, we propose PPMC November 2020 actual prices for PMS with effect from 13 November, 2020 as follows,” the memo said.