Subsidy on petrol now N1.23 per litre
petrol by N1.23 per litre, latest statistics
from the Petroleum Products Pricing
Regulatory Agency have revealed.
The pricing template of the PPPRA, which was
last updated on January 29, 2015, stated that
the Expected Open Market Price of premium
Motor Spirit, otherwise called petrol, was
N88.23, while the official retail price was N87
per litre.
The latest pricing template by the agency
indicates a drop of N2.41 in the subsidy sum,
down from the N3.64 as of January 23, 2015.
The PPPRA stated that the landing cost of
petrol was N72.74 per litre.
The landing cost
consists of the actual cost, N62.79; traders'
margin, N1.28; lightering expenses, N3.88; the
Nigerian Ports Authority cost, N0.67;
financing, N0.32; jetty depot throughput
charge, N0.80; and storage charge of N3.00.
On the distribution margins, it gave the
retailers' cost element as N4.6; transporters,
N2.99; dealers, N1.75; bridging funds, N1.75;
marine transport average cost, N0.15; while
admin charge was put at N0.15.
The subtotal
of the margins was put N15.49 per litre.
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