The Federal Government has directed petroleum depots to sell Dual Purpose Kerosene (DPK) at N73.37k per litre from the initial price of N40.90k per litre, The Guardian reports.
At the former price of N40.90k per litre only Nigerian National Petroleum Corporation (NNPC) outlets sold at the recommended price of N50 .00. Most other filling stations sold at between N120.00 and N150.00
At the earlier Federal Government-pegged price of N50 per litre, the product had been scarce in circulation, prompting the marketers to indiscriminately hike the retail price to between N80 to N100 per litre.
The new directive has elicited criticism from the Nigerian Labour Congress (NLC) which said the price of kerosene should also be reduced just as the case with petrol because they are products of the same crude oil, the price of which has crashed in the international market. With the new development, marketers will inevitably, also hike the retail price of the product after adding the associated charges.