The Federal Government has officially
ended the payment of subsidy on kerosene. Instead of the regulated pump
price of N50 per litre, the product will now sell for N83, according to
the latest pricing template for House Hold Kerosene released by the
Petroleum Products Pricing Regulatory Agency.
The PPPRA is the agency of the Federal
Government that fixes and regulates the prices of white products,
kerosene and petrol, across the country.
In its latest template released on
Saturday, the agency stated that the retail price of kerosene or HHK by
the Nigerian National Petroleum Corporation was N83 per litre.
The commodity is believed to be mostly consumed by low income earners in the country.
The new template showed that the retail
or pump price of HHK was now N10.72 higher than the Expected Open Market
Price of the commodity. The EOMP, according to the new template, is
N72.28.
The EOMP is a summation of the landing
cost of the commodity with the subtotal margins like bridging fund,
transporters’ cost, dealers charge, admin charge, etc.
Punch
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