The Petroleum Products Marketing Company (PPMC) has increased the pump price of premium motor spirit (PMS) otherwise known as petrol from N138.62 per litre to N151.56 per litre.
“Please be informed that a new product price adjustment has been effected on our payment platform,” PPMC said in an internal memo signed by D.O Abalaka to industry stakeholders.
It added, “To this end, the price of premium motor spirit (PMS) is now one hundred and fifty-one naira, fifty-six kobo (N151.56) per litre.”
PPMC, which is an agency under of the Nigerian National Petroleum Corporation (NNPC), said the new price takes effect Wednesday, September 2, 2020.
The Federal Government had in March announced that the pump price of petrol would be determined by market forces, stating that how much Nigerians would pay would be largely determined by the international prices of crude oil.
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