Port Harcourt Refinery’s Petrol Price Higher Than Dangote’s By ₦75/ltr — PETROAN

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has revealed a shocking disparity in the prices of Premium Motor Spirit (PMS) produced by the Port Harcourt Refinery and the Dangote Refinery. According to PETROAN, the price of PMS produced by the Port Harcourt Refinery is a staggering ₦75 per liter higher than that sold by the Dangote Refinery.

The Price Disparity

Dr. Joseph Obele, the Public Relations Officer of PETROAN, disclosed that while Dangote Refinery sells petrol to marketers at ₦970 per liter, the Nigerian National Petroleum Company Limited (NNPCL) sells at ₦1,045 per liter. This price disparity has raised concerns among stakeholders, with many calling for a review of the pricing mechanism to ensure that Nigerians benefit from the refined products.

Reactions and Concerns

The development has sparked a heated debate, with many Nigerians expressing their dissatisfaction with the high price of petrol despite the country’s vast oil reserves. Some have even suggested that the NNPCL may be buying products from Dangote Refinery and selling them at a higher price, thereby making a profit of ₦75 per liter.

“This is unacceptable,” said a concerned Nigerian. “We have the resources, but our leaders are more interested in lining their pockets than in providing affordable fuel for the citizens.”

The Implications

The price disparity has significant implications for the Nigerian economy. With the high cost of petrol, many businesses are struggling to stay afloat, and the cost of living for ordinary Nigerians continues to rise.

“The government needs to take urgent action to address this issue,” said a business owner. “We cannot continue to operate in an environment where the cost of fuel is so high. It’s stifling our growth and making it difficult for us to compete with other businesses in the region.”

Call for Investigation

PETROAN has called on the government to investigate the price disparity and take necessary action to address the issue. The association has also urged the government to ensure that the prices of petroleum products are reflective of the actual cost of production.

“We urge the government to take immediate action to address this issue,” said Dr. Obele. “The Nigerian people deserve to know the truth about the prices of petroleum products, and we demand that the government takes necessary action to ensure that the prices are fair and reflective of the actual cost of production.”

Conclusion

The revelation by PETROAN that the Port Harcourt Refinery’s petrol price is higher than Dangote’s by ₦75/ltr has sparked a heated debate and raised concerns among stakeholders. The government must take urgent action to address this issue and ensure that the prices of petroleum products are reflective of the actual cost of production. The Nigerian people deserve to know the truth, and it is the government’s responsibility to provide it.