The Nigerian National Petroleum Corporation (NNPC) has said there is no increase in ex-depot price of Premium Motor Spirit (PMS), popularly known as Petrol in March.
The Petroleum Products Pricing Regulatory Agency, PPPRA, had on Thursday night announced an increase in the pump price of fuel to N212 per litre.
The agency said this is based on the average costs of imported petroleum products.
The PPRA added that the average littering expenses were put at N4.81 per litre; Nigerian Ports Authority, NPA charge N2.49 per litre; NIMASA charge N0.23 per litre; Jetty Thru put of N1.61 per litre and Storage charge of N2.58 per litre and average finance cost of N2.17 per litre, translating to an expected landing cost per litre of N189.61.
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The wholesale margin was fixed at N4.03 per litre; administration charge, N1.23 per litre; transporters’ allowance (NTA) of N3.89 per litre; Bridging Fund cost of N7.51 per litre and Marine transport average (MTA) of N0.15 per litre.
It said the ex-depot price, which is the amount sold by fuel depot owners to marketers, will be N206.42, while the landing cost stands at N189.61 per litre.
But the NNPC disclosed on its Twitter handle on Friday insisted that there was no increase in pump price.
JUST IN:#NNPC Insists No Increase in Ex-Depot Price of PMS in March pic.twitter.com/IQ3S3EWVlM
— NNPC Group (@NNPCgroup) March 12, 2021
