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Fri, Mar

FG Returns Fuel Subsidy, PPPRA Sets Price At N212.61 In Released Guide

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Following the release of the latest PMS Price guide with fuel price set at N212.61 by the Petroleum Products Pricing Regulatory Agency (PPPRA), the Federal Government has officially confirmed the return of fuel subsidy. According to the PPPRA’s PMS Price guide for the month of March, the set price is expected to run between March 1st and March 31st, 2021. However, petrol is still sold at 170 across filling stations, indicating that the Nigerian National Petroleum Corporation (NNPC) spends about N42 to subsidise PMS for Nigerians.


The NNPC had earlier this month assured Nigerians that there would be no increase in PMS price in March until negotiations with labour are concluded.


PPPRA’s price template indicated the average price per ton of the commodity was at $561.96, making it N169.22 per litre while the average freight was about $21.63 (N6.51) per litre.


Also, the ex-coastal price was at N175.73 per litre with an average lightering expense fixed at N4.81 per litre and the Nigerian Ports Authority (NPA) charge was at N2.49 per litre.


Administration charges and wholesale margin were at N1.23 and N4.03 per litre respectively, while Transporter’s allowance was at N3.89 per litre, bridging cost was N7.51 and Marine Transport Average maintained N0.15 per litre.


This brought the ex-depot price for wholesale to marketers to an average of N206.42 per litre.

 

 

 

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