Petroleum products’ marketers across the country have continued to ignore the directive of the Federal Government on kerosene price as they sell the product between N110 and N160 against the regulated price of N50 per litre.
The Federal Government is paying N58.65 as subsidy for every litre of kerosene being sold in Nigeria, according to investigation by our correspondents.
Figures obtained from the Petroleum Pricing Regulatory Agency on Thursday showed that the Expected Open Market Price or actual landing cost of kerosene plus margins stood at N108.65 per litre.
This, however, was against the product’s regulated price of N50 per litre as stipulated by the government. This price is hardly adhered to by many filling stations.
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