GIFT ROBERTS
The Price of Premium Motor Spirit also known as petrol has been increased to N212.6 per litre according to Petroleum Products Pricing Regulatory Agency’s new monthly template.
As it was published Thursday night, the template shows that the retail price of petrol would sell between the market price of N209.61 and N212.61. Marketers usually sell at a higher price.
Although With ex-depot price still standing at N206.42 per litre, the March template indicates that the cost of landing for petrol per litre is N189.61.
Recall that the Nigerian National Petroleum Corporation had said that the price would remain the same in March to allow smooth dialogue between government and Labour unions.
PPPRA’s follows the increasing price of crude at the international market as well as instability in the exchange rate.