Nigerian Government has increased the price of Kerosene from N50 to N83, according to the Petroleum Products Pricing Regulatory Agency (PPPRA) new pricing template released on Sunday.
The new price applies only to Nigerian National Petroleum Corporation (NNPC) outlets other filling stations outlet in the country can sell higher than the new price.
The 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. The retailers' margin was put at N5 per litre; transporters at N3.05 per litre while dealers at N1.95 per litre.
The bridging fund at N5.85 per litre; marine transport average at N0.15 and Administrative Charges - N0.15. The the official ex-depot price, which depot owners would sell to marketers, is N68.70 per litre.
The official ex-depot price for collection is N73 per litre, while ex-coastal price is N68.02 per litre.