The Petroleum Products Marketing Company (PPMC) has announced the increase in price of petrol from N138.62 per litre to N151.56 per litre.
This was contained in an internal memo released by the PPMC and signed by D.O Abalaka.
“Please be informed that a new product price adjustment has been effected on our payment platform,” it said.
”To this end the price of premium motor spirit (PMS) is now one hundred and fifty one naira, fifty six kobo (N151.56) per litre.
”This is effective 2nd September, 2020.”
The PPMC is a subsidiary of the Nigerian National Petroleum Corporation (NNPC) .
It would be recalled that the Nigerian Government had in March said the pump price of petrol would be determined by market forces, stating that how much Nigerians would pay would be largely determined by the international prices of crude oil.