The Nigerian National Petroleum Corporation (NNPC) has assured Organised labour and Nigerians that there will be no increase in the price of Premium Motor Spirit (PMS) also known as Petrol in the month of February.
The corporation gave the assurance in a statement signed by its spokesman Dr Kennie Obateru in Abuja, on Thursday.
“In spite of the rise in the price of crude oil in the international market, NNPC has ruled out any increment in the ex-depot price of PMS in February 2021,” he said.
Reports have it that ex-depot price is the price at which oil marketers buy products from the depot.
The price determines the price at which they sell to motorists at their various petrol stations.