Petrol pump price has now hit an all time high of N212.6 per litre.
This is in spite of recent announcements by the Presidency that plans are at an advanced stage to peg the petrol price at N100 per litre.
Read: Petrol Pump Price to Go below N100 Per Litre – Federal Government
The Nigerian Petroleum Corporation had also promised that there will not be any change in price in the month of March
Unfortunately, the latest pricing template revealed by the Petroleum Products Pricing Regulatory Agency tells a different story.
The template shows a bottom price of N212.6 per lite for the premium motor spirit after all the logistics and other line items have been calculated.
The template released at 12:00 mining indicates that petrol will sell at an inevitable lower price of N209.61 and an upper retail price of N212.61.
However, marketers are known to latch on to the upper band for pump price.
The expected ex-depot price is N206.42 while the landing cost is N189.61
This is despite the Nigerian Petroleum Corporation saying there won’t be any change in the price of PMS in the month of March.
Reactions:
Dehkunle of Africa @Dehkunle· “Petrol was sold 87naira when Buhari came into Govt with the campaign promise of making it N40 per litre Buhari failed Nigerians in 2015 and same Nigerians voted for him again in 2019,suffer no Dey tire my people,today we will buy Petrol at N212”
Aproko Doctor@aproko_doctor·”Food prices before now have been out of reach for many Nigerians then you add #FuelPriceHike on top of it which will further drive up prices of things across board. Yet, the average Nigerian’s earning has not increased. How exactly do we want to bring people out of poverty?”
Premier@SodiqTade· “Goodluck was subjected to ridiculous and unfair standard those years. Even with valid explanations people didn’t agree with 99% of his decisions. People spent days in Ojota under the sun protesting against N140PL. The then protesters are now in government. New Oppressors.”
Price of Petrol now N212.6 Per Litre
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