Premium Motor Spirit, also known as petrol will now sell at between N168-N170 per liter.
This is as because the Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex-depot price to N155.17 per litre from N147.67 per litre.
The ex-depot price is the price at which the product is sold by the PPMC to marketers at the depots.
It said the estimated minimum pump price of the product would increase to N161.36 per litre from N153.86 per litre.
The National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi, in a telephone interview with our correspondent, said the over N7 increase in ex-depot price would translate into an increase in pump prices.
