Petrol Increases To N212.61 Per Litre

Posted by Tolulope Ogugua Featured, Latest Headlines, News, News Across Nigeria, News From The State Friday, March 12th, 2021

(AFRICAN EXAMINER) – The pump price of the Premium Motor Spirit (PMS) is N212.6 per litre according to the Petroleum Products Pricing Regulatory Agency (PPPRA)

This is an indication of a subsidy of N50.61 per litre since the only importer of the product- the Pipelines Products Marketing Company (PPMC) has not notified marketers on upward review of the pump price.

The PPPRA has said in a deregulated market, it is only the marketers that peg their product price.

But the Federal Government has insisted through the Nigerian National Petroleum Corporation (NNPC) that there will be no petrol price hike in March.

According to the template, expected ex-depot price is N206.42 while the landing cost is N189.61 for the month of March, 2021.

Meanwhile, from the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Friday morning that the government was yet to notify them on any price hike via their usual memo.

Speaking on phone, the IPMAN National Vice President Alhaji Abubakar Maigandi, said: “I was in a NEC meeting with the NNPC and state Governor’s yesterday (Thursday) they only complained of the soaring prices of crude oil. They have not asked us to increase pump price”.