Petrol: Consumer Spending To Hit N672.39bn In June – Punch, Page 29
Consumer spending on petrol in the country will hit N672.39bn by the end of June. The Petroleum Products Pricing Regulatory Agency has pegged petrol consumption in the country at 38.298 million liters a day. “In terms of quantity, the average daily provisional PMS supply of 38.298 million liters was recorded as of March 2013,” the Executive Secretary, PPPRA, Mr. Reginald Stanley, said. In line with this figure, therefore, over 1.18 billion liters of fuel was consumed in January; one billion liters in February; 1.18 billion liters in March; 1.14 billion liters in April; 1.18 billion liters in May; and 1.14 billion liters of fuel is expected to be consumed by the end of June, 2013. At the official pump price of N97 a liter, the sum of N334.34bn was spent on petrol consumption in the first quarter of 2013, and by the end of June, consumer spending on petrol would have reached N672.39bn.
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