How PH, Warri refineries will lead to crash in petrol prices – PETROAN
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has announced that petrol prices are expected to drop significantly following the Federal Government’s revival of the Port Harcourt and Warri refineries.
In a statement issued on Saturday, PETROAN’s National Public Relations Officer, Dr. Joseph Obele, affirmed that, contrary to earlier skepticism, the refineries are “now fully operational, with PETROAN members actively loading petroleum products such as DPK, AGO, and PMS.”
“The resurgence of these refineries has sparked intense competition, which is expected to drive down petroleum prices. As Nigerians advocate for lower PMS prices, it is clear that competition is a crucial factor in triggering price reductions,” the statement read.
He highlighted that the revitalization of the refineries brings several benefits, including the elimination of adulterated diesel and kerosene from the market.
Dr. Obele expressed regret over the years of reliance on non-functional refineries, which resulted in the widespread availability of fake petroleum products, endangering consumers’ safety.
