Subsidy on petrol now N2.84 per litre –PPPRA The Petroleum - TopicsExpress

Subsidy on petrol now N2.84 per litre –PPPRA The Petroleum Products Pricing Regulatory Agency, PPPRA, has explained how the new price of N87 per litre of petrol was arrived at, saying it was based on the components of the prevailing petroleum products pricing template. The Executive Secretary of PPPRA, Farouk Ahmed, said based on the landing cost of N74.35 per litre of PMS as at the close of business on Friday, January 16, 2014, the addition of distribution margin of N15.49 per litre would translate to an open market price, or pump price of N89.84 per litre. The N87 per litre approved by the FGN is more by N2.84 hence, By implication, the Federal Government would still be subsidizing the new petrol price by N2.84 per litre.

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