Price Waterhouse Coopers (PwC) has argued that in-country crude oil refining may not significantly reduce petrol prices because the costs of haulage, insurance and associated cost of importation do not constitute the most significant component of cost across the value chain. In a report, the global organisation, which offers professional business services, including accounting, auditing, human resources consulting, and strategy …

NNPC Limited has jerked up pump prices of Premium Motor Spirit (better known as petrol) from N195 per litre to between N488 in Lagos and some other cities; to a maximum of N557 in Maiduguri, the Borno State capital; and Damaturu, capital of Yobe State. According to NNPC Limited, the new price regime becomes effective from today (31st May). In …

Petrol (or fuel) will cost will rise to as much as N462 per litre when the Federal Government eventually removes subsidy by June next year, according to the Nigerian National Petroleum Company Limited (NNPC Limited). It said the average international market-determined landing cost in the second quarter of this year was $1,283 per metric tonne. Marketing and distribution’s cost is …