PUNCH
The recently rehabilitated Port Harcourt Refinery has begun selling Premium Motor Spirit at N1,045 per litre, a price N75 higher than the N970 per litre offered by Dangote Refinery, the Petroleum Products Retail Outlets Owners Association of Nigeria has confirmed.
The refinery resumed operations on Tuesday after years of inactivity, drawing initial praise from Nigerians and industry stakeholders.
However, concerns have arisen over the higher petrol price compared to the ex-depot prices currently available in the country.
Speaking on Wednesday, PETROAN’s National Public Relations Officer, Dr. Joseph Obele, confirmed the price difference to PUNCH Online, noting that it has discouraged marketers from lifting products from the refinery.
Obele said, “Yes, the Port Harcourt refinery is selling petrol for N1,045 per litre to marketers. That is N75 higher than the price from Dangote.
“This high price is why marketers are not going to pick up products from the refinery. But the NNPCL GCEO has assured that the price would be reduced.”
After seven postponements, the Port Harcourt Refinery Company commenced fuel production, promising a daily supply of about 200 trucks, as about one million litres of refined products were released by the plant on Tuesday.
The Nigerian National Petroleum Company Limited unveiled the refinery on Tuesday, saying the old facility, which has a capacity of 60,000 barrels per day, had been revamped and upgraded with modern equipment.
The NNPC said the newly rehabilitated complex of the old Port Harcourt refinery is currently operating at a refining capacity of 70 per cent of…
