January 25, 2016 – The Federal Government(FG) has jerked up the price of Kerosene from N50 per litre to N83 per litre.
The increase came just as price of oil in the international market fell below $30 per barrel. FG had in reaction to global fall in the price of oil reduced the price of Premium Motor Spirit(PMS), otherwise called fuel by 50 Kobo, forcing many to question the rationale for jerking up the price of Kerosene at this time.
But Kerosene will only sell for N83 at NNPC petrol stations, the Petroleum Product Pricing Regulating Agency(PPPRA), said.
Giving a breakdown of the new template, Executive Secretary, PPPRA, Mr. Farouk Ahmed put the landing cost of Kerosene at N57.98 per litre adding that the margin price due to middlemen is N14.30 he said.
According to him, retailers margin is N5 per litre, transporters N3.05 per litre , dealers N1.95 per litre, bridging fund N5.85 per litre, marine transport N0.15 per litre on the average and admin charge of N0.15 per litre.
He said depot owners will sell Kerosene at N68.70 per litre, official ex-depot price for collection at N73 per litre and ex-coastal price of N68.02 per litre.
