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Kerosene Hits N83 Per Litre as Subsidy is Officially Removed

The price of household Kerosene (HHK) was hiked this weekend by the federal government from N50 per litre to N83 per litre as subsidy is removed officially from kerosene.
The official of N83 per litre applies to Nigerian National Petroleum Corporation(NNPC) only as other dealers will tend to sell higher.
Its quite unfortunate that the prices of petroleum product which include fuel, diesel and kerosene drops to the lowest ever in the global market, while in Nigeria market the reverse is the case. indeed Nigeria is in the world of its own.

The breakdown of the price by the Petroleum Product Pricing Agency (PPPRA) for Kerosene include N83 per litre, N10.72 profit for Federal Government for every litre for Expected Open Market Price, that is Landing Cost plus Total Margins at N72.28 per litre.
Landing Cost of Kerosine at N57.98 per litre, total margin for middlemen N14.30. retailers margin N5 per litre; Transporters N3.05 per litre; Dealers N1.95 per litre; Bridging fund N5.85 per litre; Marine Transport Average N0.15 and Admin‎ Charges N0.15.
The price depot owners would sell for marketers, at N68.70 per litre, ex-depot price for collection N73 per litre, while ex-coastal price N68.02 per litre.

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