Updated: No increase in petrol price, NNPC insists as PPPRA deletes template

The Nigerian National Petroleum Corporation has insisted that there will be no increase in the ex-depot of petrol this month despite the Petroleum Products Pricing Regulatory Agency indicating the expected pump price of the product has reached N212.6 per litre.

The ex-depot price is the price at which the product is sold by the NNPC to marketers at the depots.

But following the public fury that came with announcement by the PPPRA, the agency has deleted the published new pricing template.

In a tweet on Friday via its verified Twitter handle, @NNPCgroup, the corporation stated, “#NNPC Insists No Increase in Ex-Depot Price of PMS in March.”

This is coming after the PPPRA released the template midnight showing that petrol was expected to sell at a lower retail price of N209.61 and at an upper retail price of N212.61.

Nigerian marketers usually use the upper band for pump price.

The expected ex-depot price, as seen in the template, is N206.42, while the landing cost is N189.61.

With ex-depot price standing at N206.42 per litre, the March template shows that the landing cost for petrol per litre is N189.61.