Breaking: PPPRA Makes Quick Reverse, Deletes Template Announcing Petrol Price Hike

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Petrol price increase
Petrol price increase

The Petroleum Products Pricing Regulatory Agency has deleted an earlier published template announcing that the new price of petrol has reached N212.6 per litre, following the outrage that greeted the increase in the price of Premium Motor Spirit also known as petrol.

The agency deleted the template hours after it published it on its website, http://pppra.gov.ng/pms-guiding-price-for-march-2021/, and after the Nigerian National Petroleum Corporation insisted that there was no increment in the ex-depot price of petrol.

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 are know for always using the upper band for pump price.

Breaking: PPPRA Makes Quick Reverse, Deletes Template Announcing Petrol Price Hike - Vantage News Nigeria
The template earlier published by the PPPRA

As seen in the template, the expected ex-depot price is N206.42, while the landing cost is N189.61. The ex-depot price is the price at which the product is sold by the NNPC to marketers at the depots.

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.

However, in an apparent reversal move, the PPPRA deleted the template hours later. As at the time of filing this report on Friday around 11am, the template which was still there around 9am has been deleted. On opening the website page, it showed ‘Page not found 404’.

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