The Petroleum Products Marketing Company (PPMC), the downstream subsidiary of the Nigerian National Petroleum Corporation (NNPC), has fixed the ex-depot price of Premium Motor Spirit, also known as petrol, at N138.62 per litre.
The ex-depot price is the price at which depot owners sell the commodity to retail outlets. The ex-depot price per litre of petrol is often around N15 lower than the pump price, as the marketers would add cost of transporting the commodity from the depots to their retail outlets, in addition to other costs, such as marketers’ margin, among others...for further reading, click on https://businessday.ng/energy/article/nigerias-ppmc-fixes-petrol-ex-depot-price-at-n138-62-per-litre/
SOURCE: BusinessDay Newspaper Aug 5, 2020.