Friday, 14 July 2017

Open market price of petrol now N148.16 per litre

The Nigeria’s downstream petroleum industry lost about N884.8 million in seven days to the high cost of importing Premium Motor Spirit (PMS), also known as petrol, resulting from a differential of N3.16 per litre.
Besides, Nigeria’s crude oil production, excluding condensate increased by 168,800 barrels per day in June.
With Nigeria’s petrol consumption put at 40 million litres per day, the country lost about N126.4 million daily to import differentials between June 30 to July 6, 2017, according to latest oil and gas data from the National Bureau of Statistics (NBS).