Marketers Demand Competitive Pricing, Await Ex-Depot Rates
The Nigerian National Petroleum Company Limited (NNPCL) has clarified that it has not yet released a price template for petroleum products from the recently revived Port Harcourt Refinery, amid growing concerns from marketers over pricing competitiveness.
This comes as petroleum marketers warn they may boycott products from the Port Harcourt facility if its prices are not cheaper than those of Dangote Refinery or imported alternatives.
NNPCL Clarifies Current Sales Status
In a statement to journalists, NNPCL spokesperson Olufemi Soneye stated that bulk sales from the Port Harcourt Refinery have not commenced. According to him, the company is still selling petroleum products acquired from the Dangote Refinery.
“We have not yet commenced bulk sales, and we have not opened the purchase portal as we are still finalizing the necessary processes,” Soneye explained. “At present, the products we are selling are what we bought from the Dangote Refinery, which includes NMDPRA fees.
“The product from Port Harcourt is currently designated for our retail stores. Our prices are regularly reviewed and adjusted as required.”
Marketers Await Competitive Pricing
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), emphasized that members are unwilling to load products from the Port Harcourt Refinery unless its pricing proves more competitive.
“We are anticipating that NNPC will soon release its price,” Ukadike said. “Once NNPC releases its price, we will start loading from Port Harcourt Refinery, provided it is cheaper than Dangote’s rates.”
Ukadike added that the last known NNPC price ranged between ₦1,040 and ₦1,045 per litre, but global price fluctuations could lead to adjustments. “We are expecting a review. Once that is done, we will have a clearer picture.”
Conflicting Reports on Pricing
Speculations have circulated that gasoline from the Port Harcourt Refinery may cost ₦1,045 per litre, which would exceed Dangote Refinery’s reported ₦970 per litre rate.
Joseph Obele, spokesperson for the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), alleged that Port Harcourt’s petrol prices are ₦75 higher than Dangote’s. However, PETROAN National President Billy Gillis-Harry refuted these claims, stating that no official pricing disparities have been confirmed.
Looking Ahead
As the Port Harcourt Refinery ramps up operations following its recent resumption, marketers and stakeholders are closely monitoring pricing developments. Industry observers believe that competitive pricing will be critical to ensuring the facility’s success in the market.
Marketers and consumers alike await NNPCL’s price template, which is expected to provide clarity and address concerns about affordability and market dynamics.
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