…marketers eye N500/litre petrol
Oil marketers are gearing up to load refined petroleum products from the old Port Harcourt Refining Company, as workers at the facility sprint to charge the plant on the directives of the NNPC Limited.
Dealers confirmed Friday that the PHRC was almost set to start releasing products, projecting a N500/litre price for premium motor spirit, popularly known as petrol from the facility.
This report is coming amidst the news that the PHRC will start production in December, 2024.
A source, however, confirmed that the old Port Harcourt Refinery, popularly called Area 5, is ready for loading products, while the section scheduled for December 2024, is the new refinery which was designed to export refined petroleum products.
The source added that every indicator points at the lowering of prices of the products, but that market forces will ultimately be the determinant of the pump prices.