Port Harcourt Refinery, recently rehabilitated and reopened after years of inactivity, has set its petrol price at N1,045 per litre, N75 higher than the N970 per litre sold by Dangote Refinery. This price disparity has sparked concerns among marketers and consumers, according to the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN).

On Tuesday, the Nigerian National Petroleum Company Limited (NNPCL) officially unveiled the upgraded Port Harcourt Refinery, celebrating its return to operations with modernized facilities and a promise of increased fuel supply. The refinery, currently operating at 70% of its installed capacity, is expected to produce approximately 200 trucks of refined fuel daily. Despite this milestone, marketers have expressed reservations about the refinery’s higher ex-depot petrol prices.

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Speaking on Wednesday, PETROAN’s National Public Relations Officer, Dr. Joseph Obele, confirmed the pricing issue, stating, “The Port Harcourt refinery is selling petrol for N1,045 per litre to marketers, which is N75 higher than Dangote. This high price is why marketers are not going to pick up products from the refinery. But the NNPCL GCEO has assured that the price would be reduced.”

The Port Harcourt Refinery, originally built with a capacity of 60,000 barrels per day, has undergone significant upgrades to enhance production capabilities. It now produces 1.5 million litres of diesel, 2.1 million litres of low-pour fuel oil, 1.4 million litres of Premium Motor Spirit (petrol), and 900,000 litres of kerosene daily. However, the elevated petrol price has dampened the initial enthusiasm surrounding its reopening.

While stakeholders have praised the Federal Government and the NNPCL for reviving the refinery, industry observers urge swift adjustments to the pricing structure to ensure the refinery remains competitive and attractive to marketers. Meanwhile, other refinery projects, such as Warri and Kaduna, are also under scrutiny for reactivation as part of the country’s broader energy strategy.