It has been reported that the Petroleum Products Pricing Regulatory Agency (PPPRA) has made it known in a new monthly template that the price of Premium Motor Spirit, has reached N212.6 per litre.
The template which was released at midnight showed that, PMS is expected to sell at a lower retail price of N209.61 and at an upper retail price of N212.61. Nigerian marketers usually use the upper band for pump price.
According to reports, the expected ex-depot price, as seen in the template, is N206.42, while the landing cost is N189.61. And with the ex-depot price standing at N206.42 per litre, the March template shows that the landing cost for petrol per litre is N189.61.
This is coming after the Nigerian Petroleum Corporation said that there won’t be any change in the price of PMS in the month of March. Some petrol stations had been under locks, and citizens had to queue to get fuel in the few stations opened.