The Petroleum Products Pricing Regulatory Agency said that the current open price market of the Premium Motor Spirit also known as Petrol as of November 15 was N 163. 68 .The agency disclosed this in its Petroleum Products Pricing Template released on its website , on Monday in Abuja .According to the template , the amount is N 18 . 68 higher than the N 145 price fixed by the Federal Government for the product to be sold at the petrol stations.

The template put the landing cost of the commodity at N 147. 95 per litre , while total distribution margins of N 19 . 37 per litre brings the total cost of the commodity to N 163. 68 per litre .The PPPRA report noted that the cost of the commodity plus freight stood at 618 .47 dollars per metric tonne , an equivalent of N 141 . 54 per litre .It added that the lightering expenses and Nigerian Port Authority ( NPA ) , charges stood at N 2 .75 and N 0 .84 per litre respectively.The Nigerian Maritime Administration and Safety Agency ( NIMASA ) charges , according to the PPPR , stood at N 0 .22 per litre while the Jetty Throughput charge N 0 . 60 per litre and storage charge N 2 .00 per litre .( NAN )