Fuel price hike: Gov’t takes 8 pesewas off

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Government through the Ministry of Energy has reduced the 17 pesewas per litre increase in fuel margins previously announced by the NPA by 8 pesewas.

The said reduction is said to take effect, Wednesday,5th May,2021.

This conclusion was arrived at a meeting between the Energy Minister Hon. Matthew Opoku Prempeh, 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), the Institute for Energy Policies and Research (INSTEPR). 

Ghanaians were hit with another increase in the cost of fuel at the pumps at the fuel retail outlets which was effective 1st May 2021.

Per the increment, Ghanaians will have to cough up 47p/litre instead of the 30p/litre as approved by Parliament from the budget.

BOST margin was increased last year from 3p/litre to 6/litre has further been increased by an additional 100% from the current 6p/litre to 12p/litre.

UPPF has been increased by an additional 3p/litre from 27p to 30/litre as well as the Primary Distribution Margin which has been increased by an additional 3p/litre from 8p to 11p/litre.

Fuel marking Margin, which at this point in our technological advancement should be removed, has also been increased by 5p/litre from 3p to 8p/litre.

Ghana | Atinkaonline.com