The Petroleum Products Marketing Company, PPMC, Wednesday, announced an increase in the pump price of petrol from N148.62 to N151.56 per litre.
The ex-depot price is the cost at which the product is sold to marketers.
This was disclosed in an internal memo from Ibadan depot to all stakeholders with reference number PPMC/IB/LS/020 dated September 2, 2020 and signed by D.O Abalaka.
The memo states, “Please be informed that a new product price adjustment has been effected on our payment platform.
“To this end, the price of Premium Motor Spirit (PMS) is now one hundred and fifty-one naira, fifty-six kobo (N151.56k) per litre.” He added: “This takes effect from September 2, 2020.”
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