[b]According to the latest petroleum pricing statistics from the Petroleum Products Pricing Regulatory Agency (PPPRA), the federal government’s daily spending on petrol subsidy has dropped to N1.1bn as at Tuesday from an average of N2.06bn in June and N1.6bn in July, Daily Trustreports.
The Latest figures from the PPPRA showed that the government is now paying N29.99 as subsidy on every litre of petrol consumed in the country, down from N51.61 per litre in mid-June and N42.35 paid mid-July.
The pricing template dated Tuesday August 18, 2015 said that the Expected Open Market Price (EOMP) or total cost of petrol was N116.99 per litre down from N129.35 in June. This is against a regulated retail price of N87 per litre.
Prior to the last two months, oil price had been unsteadily rising and a rise in crude oil prices, by implication, means a rise in subsidy paid by government to marketers to import the product. The Head, Energy Research at Ecobank, Dolapo Oni also noted that the resumption of petrol refining at Warri and Port Harcourt refineries could also have contributed to a slight reduction in fuel subsidies,
http://energymixreport.com/petrol-subsidy-drops-by-n1bn-now-n29-99litre/[/b]

lalasticlala,ishilove

Wonderful...

I pray ooo

Except it doesn't go up any further.. Also except if it drops even further, adonbilivit!! No be so Naira do?.

Change on point

am we are still buying fuel at the rate of 110...

So when will it affect pump price?

if I hear! remove d shit if u are not benefiting frm it bubu.. that 1b fit build two primary schoola.