BusinessNewsNigeriaOil & GasPPPRA Deletes Petrol Increase Template

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The Petroleum Products Pricing Regulatory Agency (PPPRA) has deleted the template announcing the new price of petrol stands at N212.6 per litre from its website.

The agency published the template on its website http://pppra.gov.ng/pms-guiding-price-for-march-2021/.

The publication was welcomed with outrage across the country with fuel queues observed in several filling stations in Abuja and Lagos.

The template which was released in the early hour of Friday, indicated petrol price to be sold at a lower retail price of N209.61 and at upper retail price of N212.61.

The expected ex-depot price of the commodity is N206.42, while the landing cost is N189.61.

The ex-depot price is the price at which the NNPC sold the product to marketers at the depot.

With ex-depot price standing at N206 per litre, the template of March showed that the landing cost for petrol per litre is N189.61.

However, the PPPRA deleted the March template hours later without giving any explanation, this has been seen by many as a U-turn.

According to The Nation, at around 10:58am, the page on the website indicated ‘Page not found 404’.

Bada Yusuf Amoo (Correspondent)

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