Despite the recent reduction in the pump price of petrol from N97 to N87 per litre, the Federal Government has claimed it still pays N2.84 as subsidy on every litre of the product consumed.
According to the latest petrol pricing template published on the website of the Petroleum Products Pricing Regulatory Agency, the Expected Open Market Price of Premium Motor Spirit, otherwise called petrol, is N89.84 per litre, while the regulated price is N87 per litre.
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