The Petroleum Products Pricing Regulatory Agency (PPPRA) on Thursday projected the price of Premium Motor Spirit (PMS) at N212.11 per litre.
The agency which announced this in its pricing template for the month of March, based it on the average costs of imported petroleum products.
The average littering expenses were put at about N4.81 per litre; Nigerian Ports Authority (NPA) charge N2.49 per litre; NIMASA charge N0.23 per litre; Jetty Thru put of N1.61 per litre and Storage charge of N2.58 per litre and average finance cost of N2.17 per litre, translating to an expected landing cost per litre of N189.61.
The wholesale margin was fixed at N4.03 per litre; administration charge, N1.23 per litre; transporters’ allowance (NTA) of N3.89 per litre; Bridging Fund cost of N7.51 per litre and Marine transport average (MTA) of N0.15 per litre.
The agency said the projected price does not necessarily translate to a pump price increase for Nigerians, adding that an official announcement has to be made for any increase to take effect.
The agency released templates in January and February, yet fuel price was not increased officially.
The Nigerian National Petroleum Corporation (NNPC) had announced that there would not be fuel price increase in March.
