PPPRA puts new petrol pump price at N212.61 per litre
Posted 4 years ago
by shakiez893
Nigerian National Petroleum Corporation (NNPC) in a statement released earlier this month said they were not adding pump price from the initial N183.74 and N186.74 per-litre this March 2021, going contrary to that the Petroleum Products Pricing Regulatory Agency, PPPRA, there is an addition the current price of Fuel to N212.61 per-litre, this month.
Petroleum Products Pricing Regulatory Agency’s (PPPRA) released a statement conveying to Nigerians that the price for fuel in the month of March has be increased to N212.61 per-litre with effect from 1st to March
Meanwhile, other sources have disclosed that the FG in collaboration with NNPC has once again began its subsidy of N42 per-litre on the commodity that is the reason why it is still been sold at N170 per-litre in filling stations across the states which was also confirmed by PPPRA statement
Additionally PPPRA stated that, in the month of February 2021 NNPC paid a subsidy of N16 per-litre for fuel, this allowed the fuel stations to sale at N183.74 and N186.74 per-litre and in January pump price was between N163.36 and N166.36 per-litre.
PPPRA, explained that the increment in fuel price is due to the average cost for the period on FMDQ Importer and Exporter Naira/US Dollar Exchange Rate which is N403.80, that was experienced from February 1st to 28th 2021, that is what has triggered the current fuel price and it is expected to be sold at N209.61 per-litre and N212.61 per-litre for lower and upper band respectively.
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