Nigerians have begun reacting with outrage following the announcement by the Petroleum Products Pricing Regulatory Agency in its new monthly template that the price of premium motor spirit (petrol) had reached N212.6 per litre.
According to the template which the PPPRA released midnight, petrol is expected to sell at a lower retail price of N209.61 and at an upper retail price of N212.61. Nigerian marketers usually use the upper band for pump price.
The expected ex-depot price, as seen in the template, is N206.42, while the landing cost is N189.61.
With ex-depot price standing at N206.42 per litre, the March template shows that the landing cost for petrol per litre is N189.61.
But Qed.ng observed on Friday at a filing station in Lagos that petrol sold for N162 per litre.
The alleged increase comes despite assurances by the Nigerian National Petroleum Corporation that the price of fuel won’t increase in March.
See reactions below:
