Okechukwu Nnodim, AbujaThe Petroleum Products Pricing Regulatory Agency on Tuesday increased the ex-depot price of petrol by N6 to N138.62/litre for the month of August 2020. Oil marketers stated that based on the latest increase in ex-depot price, the pump price of Premium Motor Spirit, popularly called petrol, could be between N149/litre and N150/litre this month. “They told us today (Tuesday) that the ex-depot price is now N138.62/litre but were silent on the pump price, and I think that by tomorrow (Wednesday) the pump price will be announced,” he said. Maigandi added, “With the N6/litre increase in ex-depot price, the projection is that the pump price will be around N149/litre or N150/litre, based on our usual computations.”The previous ex-depot price, according to marketers, was between N132/litre and N133/litre. Marketers and officials of the PPPRA stated that the rise in crude oil price in the international market could lead to an increase in petrol price.

Source: Punch August 05, 2020 00:00 UTC