As against the avowal of the Buhari administration that it would not increase petrol price in March, the Petroleum Products Pricing Regulatory Agency, PPPRA, has put the price of petrol at N212.61 per litre.
On February 28, the Nigerian National Petroleum Corporation, NNPC, ruled out any increment in the ex-depot price of petrol in March, 2021 to allay the fears of fuel price increment as vehicular queues began surfacing at filling stations.
But the PPPRA, late Thursday night announced that the retail price for a litre of petrol for the month would be between N209.61 and N212.61 based on the average costs of imported petroleum products.
In its pricing template for the month of March, the PPRA said 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 Charge 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.
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.
