HOW WE ARRIVED AT N87 PER LITRE PETROL PRICE – GOVT

The Federal Government has explained how the new price of N87 per litre of petrol was arrived at, saying it was based on the components of the prevailing petroleum products pricing template.

The Petroleum Products Pricing Regulatory Agency, PPPRA, pricing template shows the landing cost, the ex-depot price, which is the price that products marketers are to pay for products they lift, and the expected open market price of petroleum products.

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