The petrol ex-depot price has been slashed to N108 per litre by the Petroleum Products Management Company (PPMC). The diesel ex-depot price has also been slashed to N164 per litre in Lagos while depots in Port-Harcourt, Calabar and other states sell at N166 per litre. This was said in a memo dated 5th May, 2020 by the Petroleum Products Management Company (PPMC) to oil marketing companies and stakeholders.
However, the Petroleum Products Pricing Regulatory Agency (PPPRA) is yet to state how much petrol and diesel would sell for at retail rates. We hope to hear soon from the Petroleum Products Pricing Regulatory Agency as this news would ease the financial strain on Nigerians.