Fuel Price from Port Harcourt Refinery ₦75 Higher Than Dangote’s, Says PETROAN

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has revealed that the price of Premium Motor Spirit (PMS), commonly known as petrol, produced by the newly revived Port Harcourt Refinery is ₦1,045 per liter. This price is ₦75 higher than the rate offered by the Dangote Refinery.

PETROAN’s Public Relations Officer, Dr. Joseph Obele, made this statement during the official reopening of the refinery, which is now operating at a capacity of 60,000 barrels per day. Obele, who is also a former chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN) in Port Harcourt, initially commended the federal government for revitalizing the aging refinery.

However, he raised concerns about the price disparity between petrol supplied by the Nigerian National Petroleum Company Limited (NNPCL) and the Dangote Refinery. According to Obele, the ₦75 price difference is a significant challenge for businesses in the petroleum sector, where profitability is often determined by competitive pricing.

Despite the concerns, Obele acknowledged the restoration of the Port Harcourt Refinery as a crucial step in reducing Nigeria’s dependence on imported petroleum products. He also reassured that NNPCL’s Group Chief Executive Officer, Mele Kyari, had promised to address the pricing disparity and work toward harmonizing fuel prices, in order to alleviate the pressure on both marketers and consumers.

The reopening of the Port Harcourt Refinery is seen as a positive development for Nigeria’s oil industry, as it aims to boost local production and reduce the country’s reliance on imported fuel—a move that has been widely welcomed by stakeholders within the sector.