News Update
THE Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has disclosed that the Port Harcourt Refinery is selling petrol at ₦1,045 per litre.
This makes it ₦75 more expensive than the ₦970 per litre offered by privately-owned Dangote Refinery.
This was revealed by the PETROAN Public Relations Officer, Dr. Joseph Obele, during the official reopening ceremony of the refinery.
This revelation came as the Port Harcourt Refinery resumed operations with a daily production capacity of 60,000 barrels following extensive rehabilitation.
While the refinery’s reopening has been praised as a step toward reducing Nigeria’s dependence on imported fuel, concerns have emerged about the pricing gap.
According to PETROAN, the difference in price places a financial strain on marketers and raises questions about competitive pricing in the downstream sector.
In response, the Nigerian National Petroleum Company Limited (NNPCL) has assured stakeholders that it will take steps to address the disparity and ensure fair pricing.
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Meanwhile, with the kick-off of the Port Harcourt refinery, Nigerians are expecting the price of petrol to drop.
The refinery is producing the following:
– Straight-Run Gasoline (Naphtha): Blended into 1.4 million liters of Premium Motor Spirit (PMS or petrol)
– Kerosene: 900,000 liters
– Automotive Gas Oil (AGO or Diesel): 1.5 million liters
– Low Pour Fuel Oil (LPFO): 2.1 million liters
– Liquefied Petroleum Gas (LPG): Additional volumes.
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