Joseph Obele, PETROAN’s Public Relations Officer, disclosed that petrol from the recently reopened Port Harcourt Refinery costs N1,045 per liter. This is N75 more than the N970 per liter price from the Dangote Refinery.
Obele expressed the association’s worries at the reopening event for the Port Harcourt Refinery, which is now running at a rate of 60,000 barrels per day. While praising the federal government for reopening the facility, he pointed out that the difference in prices is a big problem for businesses, especially in an industry where staying competitive with prices is crucial for survival..
“This N75 difference is a big gap for marketers, especially in a sector where profitability hinges on price competitiveness,” Obele stated.
He disclosed that Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), had told stakeholders that efforts were being made to make petrol prices consistent. Kyari explained that the goal is to reduce the financial strain on both sellers and buyers while maintaining stability in the fuel industry.
Obele said that even though there are worries about the cost, the reopening of the Port Harcourt Refinery is a big step for Nigeria in its effort to rely less on imported petroleum products.
