The Unified Petroleum Price Fund (UPPF) and the Bulk Oil Storage and Transportation (BOST) margins on fuel have been increased, the National Petroleum Authority (NPA) has requested in a letter to Oil Marketing Companies (OMCs) and other parties.
On this day, December 1, 2022, the order becomes operative.
The NPA requested that OMCs raise the UPPF margin on each liter of gasoline and diesel sold at the pumps from 36 pesewas to 47 pesewas. Additionally, there has been an 11 pesewas increase in the UPPF for Kerosine, LPG, and Premix fuel.
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The increase is needed to ensure that, freight rates reflect current economic conditions in the country, According to the NPA,
The UPPF is used to support the transportation of petroleum products around the country to ensure that price of the product are the same in every part of the country irrespective of the location.
The letter has also asked the various players to also increase the BOST margin by 2 pesewas. The BOST margin for Petrol, Diesel and kerosene have all gone up by 2 pesewas.
