Price of premium motor spirit, PMS, is set to rise again as the price of the product for March 2021 is set at 211.11 per litre.
According to the petroleum Products Pricing Regulatory Agency, PPPRA a pricing template for the period, February 1 and 28 2021 based on the average costs of imported petroleum products also puts the lower band of the new fuel price for the month at about N209.61 per litre while the upper band was calculated at N212.61 per litre.
A review of the pricing template showed the average price per ton of the commodity at about $561.96, or N169.22 per litre, while the average freight rate coat (North-West Europe to West Africa) of about $21.63 per ton, or N6.51 per litre.
The average littering expenses were put at N4.81 per litre; Nigerian Ports Authority (NPA) charge N2.49 per litre; NIMASA charge N0.23 per litre; Jetty Thru put of N1.61 per litre and Storage charge of N2.58 per litre and average finance cost of N2.17 per litre, translating to an expected landing cost per litre of N189.61.
The wholesale margin was fixed at N4.03 per litre; administration charge, N1.23 per litre; transporters’ allowance (NTA) of N3.89 per litre; Bridging Fund cost of N7.51 per litre and Marine transport average (MTA) of N0.15 per litre.
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