Due to the black lash that greeted increase in petrol price and Nigerians trending the #FuelPriceHike on social media, the Petroleum Products Pricing Regulatory Agency, on Friday, deleted an earlier published template announcing that the new price of petrol has reached N212.6 per litre this month.
The deletion came hours after the agency published the template on its website, http://pppra.gov.ng/pms-guiding-price-for-march-2021/.
However, the Nigerian National Petroleum Corporation insisted that there was no increment in the ex-depot price of petrol in March.
According to the template which the PPPRA released on Thursday, petrol is expected to sell at a lower retail price of N209.61 and at an upper retail price of N212.61.
READ ALSO: PPPRA Template Puts Petrol Price At N212/litre
However, Nigerian marketers usually use the upper band for pump price.
PPPRA based the price on the average costs of imported petroleum products.
As seen in the template before it was deleted, the average littering expenses were put at N4.81 per litre; Nigerian Ports Authority (NPA) charge N2.49 per litre; and NIMASA charge N0.23 per litre.
Also, Jetty Thru put of N1.61 per litre and Storage charge of N2.58 per litre and average finance cost of N2.17 per litre were part of the template, giving a total 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.
