The ex-depot price of petrol in Nigeria has been increased to N151.56 per litre, according to Pipelines and Product Marketing Company (PPMC).

This was disclosed in an internal memo from Ibadan Depot to all stakeholders with reference number PPMC/IB/LS/020 dated September 2, 2020, and signed by D.O. Abalaka.

The memo said: “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 hundred and fifty-one naira, fifty-six kobo (N151.56k) per litre. This is effective from September 2, 2020.”

The ex-depot price is the price at which the product is sold to marketers at the depots.