ABUJA — NNPC's retail stations will give up their profit margin and sell petrol at landing cost for 30 days to cushion the effect of high global oil prices, the Presidency announced. Presidential spokesman Bayo Onanuga said the measure is temporary and does not mean a return of the fuel subsidy, and that commercial vehicles will be given priority. Finance Minister Taiwo Oyedele said the government is also negotiating a ceiling of N1,350 per litre on the landing cost of petrol, under which refiners and importers would carry any shortfall and recover it later. Other measures include forward crude sales to local refineries, a national strategic fuel reserve, faster rollout of CNG and more cash transfers. Brent crude has traded above $100 per barrel because of the conflict involving Iran and disruption in the Strait of Hormuz, and the average pump price of petrol has risen to about N1,400 per litre.