National Petroleum Corporation (NNPC) has warned
The Nigerian National Petroleum Corpor find ation (NNPC) has warned depot owners or terminal operators not to sell Premium Motor Spirit (PMS), popularly known as petrol, above the official ex-depot price of N133.28k per litre. The Corporation also cautioned petroleum products marketers not to sell the product above N145 per litre. Ex-depot price is the ceiling at which depot owners or terminal operators sell products to marketers, while the pump house price of a product is the amount consumers buy it from fuel stations. < /o:p> A release yesterday in Abuja by the corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, said the subsisting ex-depot petrol price of N133.28k per litre was consistent with the Petroleum Products Pricing Regulatory Agency’s (PPPRA) template and should be adhered to. Ughamadu stated that NNPC held stock of over 1billion litres, adding that imports of 48 vessels of 50million l business itres ea...