Tuesday, September 28, 2021

Nigeria increases price of kerosene from N50 to N83

Must read

- Advertisement -

The Petroleum Products Pricing Regulatory Agency (PPPRA)‎ has announced a price increment on kerosene, saying it will now sell at N83 against the previous N50 price.

This decision is contained in the agency’s products pricing template released to newsmen in Abuja on Sunday.

The template said N83 per litre price applied only to the Nigerian National Petroleum Corporation (NNPC) outlets.

It showed that at N83, the federal government would be making a gain of N10.72 on every litre.

READ ALSO:   IPMAN commends Nigerian govt over automation of petrol downstream sector

It further puts the expected open market price, which is the landing cost plus total margins at N72.28 per litre. The expected open market price is the prevailing open market rate for the product in Nigeria, after taking certain costs into consideration.

READ ALSO:   Petroleum products pricing: PPPRA engages CBN on Forex

Giving a breakdown of the price, the PPPRA template put the landing cost of ‎the product at N57.98 per litre, while the total margin due‎ middlemen was put at N14.30. The retailers’ margin was put at N5 per litre; transporters at N3.05 per litre while dealers at N1.95 per litre. It further put the bridging fund at N5.85 per litre; marine transport average at N0.15 and Administrative‎ Charges – N0.15.

According to the template, the official ex-depot price, which depot owners would sell to marketers, is N68.70 per litre. The official ex-depot price for collection is N73 per litre, while ex-coastal price is N68.02 per litre.

READ ALSO:   N761.6m subsidy fraud: Bawa testifies as court admits more evidence against Ali Peters, Nadabo Energy boss
READ ALSO:   We’ve not increased petrol price – NNPC
- Advertisement -

More articles


Please enter your comment!
Please enter your name here
READ ALSO:   We’ve not increased petrol price – NNPC

- Advertisement -

Latest article

- Advertisement -