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Reopened Warri, Port Harcourt Refineries Key to Drop in Fuel Price – PETROAN
- Warri, PH Refineries Finally Begin Operations
- PETROAN Says It Now Buys Fuel From Both Refineries
- Their Operations Responsible For Drop In Price
The Petroleum Products Retail Outlet Owners Association (PETROAN) says its members have started buying fuel from the Port Harcourt and Warri refineries, thus hin ting at a drop in Price of the commodity.
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The group’s spokesperson, Joseph Obele, shared this update in a statement on Saturday.
This news comes after reports that the Port Harcourt refinery, which was repaired in November 2024, shut down again in December. A similar situation happened at the Warri refinery, which restarted operations on December 30, 2024.
Now, Obele says both refineries have resumed selling fuel. The Port Harcourt refinery is supplying petrol, diesel, and kerosene, while the Warri refinery is only selling diesel and kerosene.
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“PETROAN members are now getting fuel, including kerosene, diesel, and petrol,” he said.
The reopening of these refineries, along with the existing Dangote Refinery, has raised hopes that fuel prices might go down.
“With more refineries now working, there is more competition, which could lead to lower fuel prices. Many Nigerians want cheaper petrol, and competition plays a big role in making that happen.
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“This also helps to remove bad-quality diesel and kerosene from the market,” Obele added.
Right now, Nigerians are paying between N965 and N1,100 per litre for petrol.
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