The NNPC Ltd has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country. The Estimated prices shows that the company will sell the fuel at N1,019.22 in Borno State, N999.22 in other parts of the North and N992.22 in the Federal Capital Territory, N960.22 in the South West, and N980.22 in the South East and South South.
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In a statement, NNPCL stated that in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not set by Government, but negotiated directly between parties on an arms length.
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It confirmed that it is paying Dangote Refinery in dollars for September 2024 PMS offtake, as Naira transactions will only commence on October 1st, 2024.
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It assured that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100% to the general public.