Marketers and retailers of petroleum products are set to begin lifting Premium Motor Spirit (PMS) from the Port Harcourt Refining Company this week, barring any unforeseen changes. This was revealed by Joseph Obele, the Publicity Secretary of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), in an exclusive interview.
Obele explained that since the refinery resumed operations in November, it has been supplying fuel exclusively to retail outlets owned by the Nigerian National Petroleum Company Limited (NNPCL). However, marketers continue to source their fuel from the NNPCL, which has been selling imported fuel. Obele raised concerns over the price disparity, noting that the NNPCL charges retailers in Port Harcourt higher prices for petrol compared to Lagos, despite the proximity of the refinery.
Currently, the price in Port Harcourt stands at N970 per litre, while in Lagos, the price is N899 per litre. Obele called for a reduction in prices to align with those in Lagos, emphasizing that the Port Harcourt refinery now has the stock available to supply local retailers directly.
Despite the planned commencement of direct supplies this week, marketers in Port Harcourt are still sourcing fuel through the NNPCL retail outlets. Obele further clarified that the fuel supplied to Lagos is imported, as opposed to the locally produced fuel that will now be available from the Port Harcourt refinery.
The NNPCL has also announced that rehabilitation work on the larger Port Harcourt refinery, with a capacity of 150,000 barrels per day, is near completion.