BREAKING: Petrol hits N212.61 per litre

0

The pump price of the Premium Motor Spirit (PMS), according to the Petroleum Products Pricing Regulatory Agency (PPPRA) in its March template, is N212.6 per litre

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.

READ ALSO:   Abia online bloggers hold maiden AGM in Umuahia

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.

READ ALSO:   APC will rule Nigeria beyond 2023-Oshiomhole

Meanwhile, it was learnt 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.


Disclaimer: infonte9ja.com shall not be liable to Opinions, Articles or Features that doesn't emanate from any of its staff and management. We also wish to reiterate that such personal or sponsored opinion, article or feature does not reflect the views of the publishers of infonet9ja.com, but the writer's
For publication of your news content, articles, videos or any other news worthy materials, please send to infonetnews9ja@gmail.com | For Advert and other info, you can call 09061217047 or send a WhatsApp Message to 09061217047

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”.


LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.