BEVERLY HILLS, March 12, (THEWILL) – In the wake of the outrage that greeted the increase in the price of petrol, the Petroleum Products Pricing Regulatory Agency, on Friday, deleted an earlier published template announcing that the new price of petrol has reached N212.6 per litre.
The erasure came hours after the agency published the template on its website, http://pppra.gov.ng/pms-guiding-price-for-march-2021/, and after the Nigerian National Petroleum Corporation insisted that there was no increment in the ex-depot price of petrol.
THEWILL reported earlier that the NNPC insisted there will be no increase in the price of Premium Motor Spirit (PMS).
The Corporation in a tweet on Friday said there will be no increase in the price of petrol across the country for the month of March.
The ex-depot price is the price at which the product is sold by the NNPC to marketers at the depots.
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According to the (now deleted) template which the PPPRA released midnight, petrol is expected to sell at a lower retail price of N209.61 and at an upper retail price of N212.61. Nigerian marketers usually use the upper band for pump price.
Going by earlier released template by the PPPRA, the expected ex-depot price, as seen in the template, is N206.42, while the landing cost is N189.61.
With ex-depot price standing at N206.42 per litre, the March template (now deleted) showed that the landing cost for petrol per litre is N189.61.
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But the PPPRA, in a seeming U-turn, has deleted the template. A checked at 12:40pm on Friday afternoon, the template has been deleted. The website page showed ‘Page not found 404’.