Marketers Set to Begin Petrol Lifting from PH Refinery, Expect Price Drop – IPMAN

Marketers Set to Begin Petrol Lifting from PH Refinery, Expect Price Drop – IPMAN

By Fly Cable News

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed confidence that its members will start loading petroleum products from the Port Harcourt refinery this week. This comes as Dangote Petroleum Refinery and the Petroleum Products Retail Outlets Owners’ Association (PETROAN) continue negotiations to finalize product pricing, volume, and logistics.

IPMAN noted that with increased supply from the Port Harcourt refinery and a reduction in Dangote Refinery’s minimum bulk purchase requirements, independent marketers are now able to access products directly, boosting competition in the market. IPMAN also predicts that this, along with favorable exchange rate changes, could lead to a decrease in pump prices in the coming weeks.

PETROAN’s negotiations with Dangote Refinery aim to secure a steady supply of petroleum products, ensuring no shortages during the festive season. Both associations are optimistic that their collaborative efforts will prevent fuel scarcity, emphasizing the need for continued support from all stakeholders in the downstream sector.