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By Adewale Sanyaolu
The Petroleum Retail Outlets Owners Association of Nigeria(PETROAN), has said the current petrol retail price of N739 per litre is not market reflective and sustainable.
National President of PETROAN, Mr.Billy Gillis-Harry, in a telephone interview with Daily Sun further maintained that the current pricing structure being promoted by the Dangote Refinery won’t stand the test of time.
He added that the N739 per litre pump price was artificially induced, saying such price cannot be in force for long.
The PETROAN boss said the current price regime was not in tandem with the right pricing structure in a deregulated market.
Gillis-Harry added that there are cost implications and service value that all add up to have a market reflective price.
“It is not easy to give a fixed market price for petrol because a lot of factors come into play, especially the price movements of crude oil in the international market which is a major determining factor.
In an ideal situation situation price prices shouldn’t be static. It should move with market trend- either upward or downward,”.
He noted that it is for this reason and many more that stakeholders are canvassing multiple sources of supply as against a single source.
“ Even though our members are patronising Dangote Refinery, we still source products from other sources which incldue depot owners. It will wrong to limit ourselves because that would be counterproductive”.
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He explained that the position of the association has always been to buy from Dangote Refinery first before other suppliers, saying limiting supply to only Dangote is what the association is against.
He urged the Federal Government to fix its refineries so that there can be a robust chain of supply sources.
Recall that the Dangote Petroleum Refinery had last week commenced nationwide sales of petrol at a pump price of N739 per litre across all MRS Oil Nigeria Plc filling stations.
This move represents a significant milestone in the refinery’s mission to deliver affordable fuel to Nigerians and stabilize the downstream petroleum market.
With over 2,000 MRS stations nationwide, the new pricing is expected to be implemented across all outlets, ensuring that the benefits of this reduction reach consumers nationwide.
A statement by the refinery commended marketers who have embraced the new pricing regime and urged others to follow suit in the interest of national economic recovery.
“We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump. We call on others to join this effort as a show of support for Nigeria’s economic recovery,” the refinery stated.
Historically, the festive season has been associated with fuel scarcity and sharp price hikes.
However, Dangote Refinery has delivered a decisive market intervention—crashing pump prices at a time when Nigerians typically brace for hardship. Backed by a guaranteed daily supply of 50 million litres, this initiative fundamentally alters the supply dynamics during the holiday period.
