PPMC increases fuel pump price to N151.56 kobo per litre

The Petroleum and Products Marketing Company (PPMC) has increased the pump price of fuel otherwise known as premium motor spirit (PMS) from 148.50k to N151.56 per litre.

In a circular dated 2nd September, 2020, ref. PPMC/1B/LS/020 which was signed by Mr. D.O. Abalaka, Depot Manager, and obtained by CAPITAL POST in Abuja said the adjustment takes effect from 2nd September, 2020.

The circular reads: “Please be informed that a new product price adjustment has been effected on our payment platform.

“To this end, the price of premium motor spirit (PMS) is now One Hindred and Fifty one naira, fifty-six kobo (N151.56k).

The circular which emanated from Ibadan Depot was a follow up of the development from the headquarters of PPMC in Abuja.

The price increase was coming in less than two months that the pump price was initially adjusted to N148.50 kobo per litre.