The Petroleum Products Pricing Regulatory Agency (PPPRA) has
increased the price of Household Kerosene from N50 to N83. This is
contained in its products pricing template, released on Sunday in Abuja.
It stated that the N83 per litre price applied only to the Nigerian
National Petroleum Corporation (NNPC) outlets. The template also showed
that at N83, the Federal Government will be making a gain of N10.72 on
every litre. It further puts the expected open market price, which is
the landing cost plus total margins at N72.28 per litre. The expected
open market price is the prevailing open market rate for the product in
Nigeria, after taking certain costs into consideration. Giving a
breakdown of the price, the PPPRA template put the landing cost of the
product at N57.98 per litre, while the total margin due middlemen was
put at N14.30. The retailers’ margin was put at N5 per litre;
transporters at N3.05 per litre while dealers at N1.95 per litre. It
further put the bridging fund at N5.85 per litre; marine transport
average at N0.15 and Administrative Charges – N0.15. It stated that the
official ex-depot price, which depot owners would sell to marketers, is
N68.70 per litre. The official ex-depot price for collection is N73 per
litre, while ex-coastal price is N68.02 per litre.(NAN)
Culled from Sun
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