The new fuel prices which were met with protests have been reduced. The new price per litter
has been reduced from17 pesewas to 9 pesewas.
The decision to hear the cry of the ordinary consumers and reduce same was the outcome of a meeting the Energy Minister, Matthew Opoku-Prempeh held with stakeholders yesterday.
“At the end of the discussions, it was agreed that the 17 pesewas per litre increase in fuel margins previously announced by the NPA should be reduced to 9 pesewas per litre. This takes effect tomorrow (today),” the Energy Ministry announced yesterday.
Present at the meeting were representatives from the National Petroleum Authority (NPA), the Association of Oil Marketing Companies (AOMCs), Bulk Oil Storage and Transportation Co Ltd (BOST), the Chamber of Petroleum Consumers (COPEC) and the Institute for Energy Policies and Research (INSTEPR).
Fuel prices had been increased following the new levies that came with this year’s budget, to tackle sanitation, others.
In keeping up with the changes implemented by the National Petroleum Authority (NPA) which took effect last Saturday, May 1, 2021 some major Oil Marketing Companies (OMCs) adjusted fuel prices upward at the pumps.
Shell, for instance, as of yesterday morning was selling a litre of diesel and petrol at GH¢6.13 representing more than 12 percentage points hike, while Total has done a similar thing, myjoyonline reported.
Chief Executive of the Association of Oil Marketing Companies, Kweku Agyeman Duah told Joy Business the players do not have any other option than to comply with these measures.
“These are genuine tax and levy measures introduced by government that comes into full force. For us as collectors, we need to make sure that we collect fully for the state, so we price accordingly.”
However, transport fares may still witness some adjustment because of the 9 pesewas increase in the fuel margins, beside the fortnight review of petroleum prices.
The post Govt reduces fuel prices after slashing down NPA margins appeared first on The Chronicle Online.Read Full Story