News Update
THE Petroleum Products Retail Outlet Owners Association says its members have started loading dual-purpose kerosene, automotive gas oil, and premium motor spirits at the Port Harcourt and Warri refineries.
The spokesperson of PETROAN, Joseph Obele, disclosed this in a statement on Saturday.
This follows a reported shutdown of the Port Harcourt refinery in December 2024 after it was rehabilitated in November. The same situation was said of Warri Refinery after it recommenced operation in December 30, 2024.
However, in an update, Obele revealed that the lifting of petroleum products has commenced in both state-owned refineries.
According to him, the Port Harcourt refinery is already selling petrol, diesel, and kerosene to retailers, while the Warri refinery is supplying only diesel and kerosene.
“PETROAN members are now loading petroleum products, including dual-purpose kerosene, automotive gas oil, and premium motor spirits.”
The restart of petrol sales at both the Port Harcourt and Warri refineries, together with the existing Dangote Refinery, has sparked speculations of retail fuel price reduction.
“The resurgence of these refineries has sparked intense competition, expected to drive down petroleum prices. As Nigerians advocate for lower PMS prices, it is clear that competition is a crucial factor in triggering price reductions.
“The refineries’ revitalisation has brought numerous benefits, including the eradication of adulterated diesel and kerosene from the market,“ Obele stressed.
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Meanwhile, Nigerians currently buy fuel between N965 and N1,100 per litre nationwide.
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