The Nigerian National Petroleum Corporation (NNPC) on Wednesday announced a 17.94 per cent reduction in the ‘ex-depot’ price of petrol. Ex-depot price is the ceiling price at which petroleum products depot owners or terminal operators are expected to sell to marketers. The marketers, through their various filling stations, then sell to the end users. With the reduction of the ex-depot price, a new retail price of petrol is expected to be announced by the appropriate agency, PPPRA. The new ex-depot price is coming almost a week into the new month, following the promise last month by the Group Managing Director of the NNPC, Mele Kyari, that a new pricing template for petroleum products would be released every first of a new month. The latest review is expected to further bring down the retail pump price at NNPC filling stations in line with the new spirit of competition among marketers under the recent partial deregulation policy announced by the NNPC GMD for the country’s downs...
Comments
Post a Comment