The Federal Government has officially
ended the subsidy on premium motor spirit, popularly known as petrol.
The latest Petroleum Products Pricing template, issued by the Petroleum
Products Pricing Regulatory Agency does not contain the usual subsidy
component.
The PPPRA is the government agency that
regulates the prices of petroleum products in the country and its
template has always offered insights into how the pricing of these
products are determined by the regulators.
The PPPRA, after getting approval from the Federal Government, had
announced last Tuesday that retail filling stations belonging to the
NNPC would from Friday, January 1, 2016 sell petrol at N86 per litre,
while other oil marketers would sell the commodity at N86.5 per litre.
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