Home NEWS FG Announces New Increament Of Fuel Price

FG Announces New Increament Of Fuel Price


Information reaching Nigerians is that, The Petroleum Products Pricing Regulatory Agency (PPPRA) has declared a guiding price of ₦211.11 per litre for premium motor spirit (PMS), otherwise known as fuel.


Daily Report Nigeria gathered that a pricing template for the period, February 1 and 28 2021, published on the agency’s website based on the average costs of imported petroleum products also puts the lower band of the new fuel price for the month at about N209.61 per litre while the upper band was calculated at N212.61 per litre.

A review of the pricing template showed the average price per ton of the commodity at about $561.96, or N169.22 per litre, while the average freight rate coat (North-West Europe to West Africa) of about $21.63 per ton, or N6.51 per litre.

This resulted into an expected ex-coastal price of about N175.73 per litre.


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