“Old Pricing Template”: Marketers Deny New NNPC’s Petrol Price, Speak on Expectation
- Petrol retail outlet owners reacts to media report about a new petrol price by the port Harcourt refinery, run by NNPC
- the Association’s president said the PETROAN only bought PMS with the old pricing template while awaiting the new prices from NNPCL
- This is on the back of report that the price of pMS produced by the old Port Harcourt Refinery per litre is N75 higher than that of the Dangote Refinery
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
Media stories regarding a new ptrol price set by the Nigeria National Petroleum Company Limited (NNPCL) Port Harcourt Refinery has been debunked by the national headquarters of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN).
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PETROAN only purchased PMS using the outdated pricing template while waiting for the new prices from NNPCL that will benefit Nigerians.
This was contained in a statement issued by Dr. Billy Sotubo Gillis-Harry, president of the Association, New Telegraph reported.
“The National Headquarters of Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) Abuja would like to Inform the media and the general public that no new price for PMS has been released by the NNPC Port Harcourt Refinery.
“Members of PETROAN only bought PMS with the old pricing template awaiting new prices.
“We are excited that the production and loading of refined petroleum products have commenced at the Port Harcourt Refinery and we are expecting that soon the price of PMS will be stated by NNPC to the benefit of Nigerians,” the statement read.
This is coming after the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has said that the price of premium motor spirit produced by the old Port Harcourt Refinery per litre is N75 higher than that of the Dangote Refinery.
Dr. Joseph Obele, the association's public relations officer, announced this at the refinery's formal reopening ceremony.
Dr. Obele, a former chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN) at the Port Harcourt Depot, expressed concern over the price disparity between petrol supplied by the Nigerian National Petroleum Company Limited (NNPCL) and the Dangote Refinery.
However, he first commended the federal government for its efforts in revitalizing the old refinery.
ChannelsTV reported that he claimed that NNPCL charges N1,045 per liter for petrol, a discrepancy of N75 per litre, while Dangote Refinery sells it to marketers for N970.
NNPC Gives List of Fuel Produced
Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPC Ltd.) said that the Old Port Harcourt Refinery is currently generating substantial amounts of petroleum products every day at 70% capacity.
After years of operational failures, this is a significant turning point in the refinery's rehabilitation.
The refinery mixes Straight-Run Gasoline with crack C5, a substance from Indorama Petrochemicals, to satisfy necessary gasoline standards.
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Source: Legit.ng
