The Federal Government, weekend, hiked the price of Household Kerosene (HHK) also known as kerosene, to N83 per litre from N50 per litre, thereby, officially ending subsidy on the product.
The Petroleum Products Pricing Regulatory Agency, PPPRA, in its product pricing template released over the weekend, however, stated that the N83 per litre price applies only to the Nigerian National Petroleum Corporation (NNPC), meaning that other petrol stations and dealers can sell higher than the stipulated amount.
Curiously, the hike in the price of kerosene was coming at a time when the price of crude oil had dropped to record low, with the price of petroleum products, such as kerosene, fuel and diesel, among others, dropping significantly in a number of countries, like the United States.
This also brings to question, the recent reduction in the price of Premium Motor Spirit, announced by the Federal Government and which commenced at the beginning of the year.
Again, the PPPRA’s template also showed that at N83 per litre, the Federal Government is making a gain of N10.72 for every litre, as it puts the Expected Open Market Price, which is the Landing Cost plus Total Margins at N72.28 per litre. The expected open market price is the prevailing open market rate for the product in Nigeria, after taking certain costs into consideration.
Giving a breakdown of the price, the PPPRA template put the Landing Cost of the product at N57.98 per litre, while the total margin due middlemen was put at N14.30.
Further breakdown of the Total Margins showed that retailers margin was put at N5 per litre; Transporters – N3.05 per litre; Dealers – N1.95 per litre; Bridging fund – N5.85 per litre; Marine Transport Average – N0.15 and Admin Charges – N0.15.
The PPPRA further put official ex-depot price, which is the price depot owners would sell at marketers, at N68.70 per litre, official ex-depot price for collection – N73 per litre, while ex-coastal price – N68.02 per litre. Click to signup for FREE news updates, latest information and hottest gists everyday
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And who says we have being buying kero 4 #50..increasing kero price is one of the worst hardship this government have inflict on his citizens. All over around us here we buy kero for #120 and now Dats it's hike maybe it will be sold 4 #200 per litre.....as a matter of fact my hope in this government is beginning to dwindle, hope is dash-----
ReplyDeleteThe quality of your communication already gives away your poor understanding of the discuss. No correlation can be established between all your claims as they are all ambiguous.
DeleteRead and assimilate b4 wailing. We all know that we don't buy kerosene for #50 but I know it sold at #50 at NNPC filling station and other independent station. Now the fraudulent subsidy has been totally removed isn't welcome development to see to the trend of availability? Doing thing the same way all the time make this country stand still in the helm of nation. We must adjust for us all to see the expected growth in this government and the country
DeleteI no you are part of this stupid goverment you must be insen how can suport that kerosin been a poorman life should be incrist his this the change the promise us may GOD forgive all of you
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Open eye rubbery! Rejected by God and man! No way! Why must the few opportunities of Nigerians hold this country to ransom? God please intervene so man may know that only God has the final say over all his people
ReplyDeleteIt is good for a country to be well organized and planned. If we had channeled our resources to viable industries like gas, rather than accumulating primitively stolen commonwealth in tax havens abroad, this development wouldn't come as a shock because most of us would have been connected to the national gas grid. For our leaders, it is better for Mobil, Chevron, Shell, etc to flare the gas and kill us all with its attending side effects.
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ReplyDeletePetrol going... going...gone!
ReplyDeleteYou guys are day dreaming :). This is just the beginning of our hardship to come. Who will dare go to the street to protect the decision of the government unlike during the last administration were people often takes to the streets with any new or foreign changes made in advancement of the good people. This administration have put fear on the minds of the people by their various actions so far and no one dare to question their policy because if you do you will be link to Dasukigate and EFCC will come after you just a strategy to shut you up. It's a pity we didn't read the handwriting on the wall during the last Campaign. We have to live with it until 2019!
ReplyDelete