Nigerians woke up to an unappealing new of hike in the pump price of petrol and many have lamented the negative impact of such price surge in their various life engagement.
The Petroleum Products Pricing Regulatory Agency has revealed in a new monthly template that the price of Premium Motor Spirit , also known as petrol , has reached N 212 .6 per litre.
According to the template which the PPPRA released midnight, petrol is expected to sell at a lower retail price of N 209 .61 and at an upper retail price of N 212 .61 . Nigerian marketers usually use the upper band for pump price .
The expected ex – depot price, as seen in the template , is N 206. 42, while the landing cost is N 189 .61 .
With ex – depot price standing at N 206 .42 per litre, the March template shows that the landing cost for petrol per litre is N 189 .61 .