The Federal Government
has officially ended the payment of subsidy on kerosene. Instead of the
regulated pump price of N50 per litre, the product will now sell for N83,
according to the latest pricing template for House Hold Kerosene released by
the Petroleum Products Pricing Regulatory Agency.
The PPPRA is
the agency of the Federal Government that fixes and regulates the prices of
white products, kerosene and petrol, across the country.
In its
latest template released on Saturday, the agency stated that the retail price
of kerosene or HHK by the Nigerian National Petroleum Corporation was N83 per
litre.
The
commodity is believed to be mostly consumed by low income earners in the
country.
The new
template showed that the retail or pump price of HHK was now N10.72 higher than
the Expected Open Market Price of the commodity. The EOMP, according to the new
template, is N72.28.
The EOMP is
a summation of the landing cost of the commodity with the subtotal margins like
bridging fund, transporters’ cost, dealers charge, admin charge, etc.
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