Petrol price increase due to market realities —NNPC

The Nigerian National Petroleum Corporation on Friday said the increase in the price of petrol was based on the prevailing realities of market forces of demand and supply.

It also said the corporation was aware of the purported increase in the Pipelines Product Marketing Company’s ex-coastal price and ex-depot price (with collection) to N130 and N155.17 respectively.

NNPC, in a statement issued in Abuja by its spokesperson, Kennie Obateru, however, said it wished to clarify that although there was an increase, the correct prices, as could be seen on PPMC’s Customer Express platform were ex-coastal price, N128; and ex-depot price (with collection), N153.17.

The Customer Express platform is an online portal for procurement of petroleum products, while PPMC is a subsidiary of NNPC.

NNPC advised marketers to make their purchases through the online Customer Express platform at the recommended prices.

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