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.
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