Petroleum Products Pricing Regulatory Agency PPPRA, has assumed the price of Premium Motor Spirit, PMS, better known as petrol, at N212.11 per litre.
The agency announced this in its pricing template for the month of March, based on the average costs of imported petroleum products.
The average littering expenses were put at N4.81 per litre; Nigerian Ports Authority NPA, charge N2.49 per litre; NIMASA charge N0.23 per litre; Jetty Thru put of N1.61 per litre and Storage charge of N2.58 per litre and average finance cost of N2.17 per litre, translating to an expected landing cost per litre of N189.61.
While the wholesale margin was fixed at N4.03 per litre; administration charge, N1.23 per litre; transporters’ allowance NTA, of N3.89 per litre; Bridging Fund cost of N7.51 per litre and Marine transport average MTA, of N0.15 per litre.
Meanwhile, the projection of PPPRA does not necessarily translate to a pump price increase for Nigerians as an official announcement has to be given for any increase to take effect.
The agency however released templates in January and February, yet fuel price was not increased officially.
Recall that the Nigerian National Petroleum Corporation, NNPC, recently said there would not be fuel price increase this month.
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