Tag: Petrol price in Nigeria

Oil Hits $94 Per Barrel, Marketers Eye Fresh Petrol Price Hike

Abibat Babalola

The rise in the cost of crude oil, coupled with the depreciation of the naira against the United States dollar, might lead to a hike in the pump price of Premium Motor Spirit, popularly called petrol, oil marketers stated on Sunday. It was also gathered that the sharp rise in crude oil price to about $94/barrel and the crisis around forex, had warranted a gradual increase in the amount being quietly spent as subsidy on petrol by the Federal Government. Dealers in the downstream oil sector explained that the cost…

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Nigeria hikes Petrol ex-depot Price by N5.32 per litre

Efe Wellington

  Nigeria, Africa’s biggest crude oil exporter, has hiked the ex-depot price for Premium Motor Spirit (PMS) also known as petrol by N5.32 per litre. The country’s Pipelines and Products Marketing Company (PPMC), which is a subsidiary of the Nigerian National Petroleum Corporation (NNPC), approved the new ex-depot price for petroleum products for the month of August in a memo released to all depots and marketers sighted by Platforms Africa on Wednesday morning. Ex-depot price is the price that the product is sold at the depot for marketers.  It largely…

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