State-owned oil company, the Nigerian National Petroleum Company Limited (NNPC), on Friday debunked claims that it has slashed the price of Premium Motor Spirit (PMS), or petrol, coming from the Port Harcourt Refining Company (PHRC).
This comes after the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) on Thursday said the Port Harcourt refinery had reduced the price of petrol for marketers to N1,030 per litre, from N1,045 per litre initially charged by the refinery.
“Today, the Nigerian National Petroleum Company (NNPC) Limited has reduced their price to 1,030 Naira,” PETROAN President, Billy Gillis-Harry, announced during a strategic meeting and award presentation in Abuja on November 28.
“We are still hoping and pushing that it will still come down low,” he said.
But the NNPC, on Friday, November 29,urged the general public to disregard such reports.
“We advise the public to disregard any misleading information regarding pricing. Official announcements will be made if and when price reviews occur,” NNPC said in a statement signed by its spokesman, Olufemi Soneye.
In the statement titled “Announcement on Pricing of PHRC Products”, NNPC said the Port Harcourt Refining Company had not yet commenced bulk sales or opened its purchase portal as essential processes were still being finalized.
“Currently, the products we are selling originate from the Dangote Refinery and include applicable NMDPRA fees. Products from PHRC are exclusively for our retail stores at this stage. Our pricing is reviewed and adjusted periodically as necessary to reflect operational realities,” the statement said.
The Port Harcourt refinery commenced crude oil processing on November 26 after several years of inactivity. It also commenced the loading of petroleum products for trucks.
