By Nigerians will have to pay more for Premium Motor Spirit (PMS) otherwise called petrol, following the latest development disclosed by the Petroleum Products Pricing Regulatory Agency (PPPRA).
The agency, in a new monthly template published Thursday night, said the price of PMS has soared to N212.6 per litre.
The template shows that the retail price of petrol would sell between market band of N209.61 and N212.61. Marketers usually sell at the upper band.
With ex-depot price standing at N206.42 per liter, the March template showed that the landing cost for petrol per liter is N189.61.
The PPPRA template is said to follow the increasing price of crude at the international market as well as instability in exchange rate.
Meanwhile, the Nigerian National Petroleum Corporation (NNPC) had said price would remained static in March to allow smooth dialogue between government and labour unions.
