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Oil marketers have revealed the price of Premium Motor Spirit (PMS), commonly known as petrol, produced at the recently reopened Port Harcourt Refinery.
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) disclosed that petrol from the refinery will be sold at N1,030 per litre.
This announcement follows weeks of speculation regarding the pricing of petrol from the facility. Although the Nigerian National Petroleum Company Limited (NNPC) had earlier stated that the refinery was operating optimally, it had not provided pricing details until now.
In a statement issued on Thursday, PETROAN spokesperson Joseph Obele confirmed that NNPC had informed the association about the official price of PMS at the refinery.
He noted that NNPC Retail Ltd had opened its product request portal for bookings.
Obele further explained that PETROAN’s pricing team is currently assessing the most competitive rates for its members, emphasizing the association’s willingness to source products from all Nigerian refineries.
He also appealed to NNPC Retail to consider lowering the price to ensure Nigerians enjoy the upcoming holiday season.
Addressing scepticism about the refinery’s operations, Obele insisted that the refurbished Port Harcourt Refinery is indeed functional and produces refined petroleum.
He stated that it is currently operating at 70% capacity, with plans to increase output to 90% in the near future.