Oil and Gas
PPPRA deletes new pricing template for March
Nigeria’s petrol price regulator has pulled down the pricing template for March a few hours after it published it on it’s website.
“PLEASE BE INFORMED THAT PUBLISHED PRICES ARE ONLY INDICATIVE OF CURRENT MARKET TRENDS,” Petroleum Products Pricing Regulatory Agency said on Friday after deleting the template.
The agency is reacting to the nationwide outcry that welcomed the new template it published on Thursday evening.
The template as published on Thursday night, showed that the retail price of petrol would sell between a market band of N209.61 and N212.61.
With ex-depot price standing at N206.42 per litre, the March template showed that the landing cost for petrol per litre is N189.61.
Many Nigerians took to social media to complain and express their displeasure at Government’s insensitivity in imposing the hike considering the current inflation rate in the country.
