The Pipelines and Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) and most of the oil marketing companies were yet to implement the new ex-depot prices of petrol at the weekend, ThisDay reports.
In most of the depots where the PPMC is selling its imported products, the ex-depot price is still higher than the N77 approved by the government. While PPMC was selling at ex-depot price of N85 per litre at Capital Oil Depot and N86 at Heyden Petroleum Depot, none of the private marketers was selling at N77.
The private marketers have also not adjusted to the new price at the depots due to mounting concern on the economics of the new pricing model in the face of a myriad of challenges facing the downstream operators in the areas of sourcing products and foreign exchange.
Source: Daily Post News
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