Port Harcourt Refinery: Nigerians should expect fuel price drop – Oil Marketers

Port Harcourt Refinery: Nigerians should expect fuel price drop – Oil Marketers

 Nigeria’s petroleum marketers have said that with the coming
on stream of Port Harcourt refinery, Nigerians should expect a drop in prices
of petroleum products.

 

The President of the Petroleum Products Retail Outlet Owners
Association, PETROAN, Billy Gillis-Harry made this known on
Tuesday in an interview.

 

Gillis-Harry was reacting to the commencement of Port
Harcourt Refinery on Tuesday.

 

The refinery trucked out petroleum products, including
petrol, diesel, and kerosene, while other products will be dispatched as well.

 

Speaking on the development, Gillis-Harry stated that the
price of Port Harcourt Refinery petroleum products will be known by Friday or
Monday next week.

 

He, however, noted that Port Harcourt Refinery will push
petrol price down because the coming on stream of the plant has eliminated several
cost components.

 

According to him, going further, NNPCL retail price may drop
below N1060 per litre as a result of Port Harcourt Refinery.

 

“The price of the Port Harcourt refinery petroleum products
has not been revealed as we speak.

 

“The first thing we should talk about is the availability of
the products.

 

“The price of Port Harcourt Refinery products will be
pocket-friendly as a result of deregulation in the sector.

 

“By Monday and Friday, I will be able to tell you the exact
price of Port Harcourt Refinery’s product.

 

“With the Port Harcourt refinery, the price of NNPCL petrol
will drop. This is because the Port Harcourt refinery has eliminated some cost
components. Definitely, the price of petrol may drop below N1060 per litre at
NNPCL retail outlets.

 

“We have applied at the NNPCL platform to get the PH
refinery petroleum products,” he said.

 

Earlier, the Chief Executive Officer, Nigerian Midstream and
Downstream Petroleum Authority, Farouk Ahmed, said the refinery will bring down
the price of petroleum products.

 

Meanwhile, Mele Kyari, the Group Chief Executive Officer of
NNPCL, said the availability of petroleum products will lead to a price drop.

Source: Port Harcourt Refinery: Nigerians should expect fuel price drop – Oil Marketers

 - NigerianEye
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