Fuel Prices Ignore misleading reports on fuel price increase - NPA

Media reports indicated that fuel prices across the country have been increased to 11 percent by the Chamber of Petroleum Consumers Ghana (COPEC-GH).

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The National Petroleum Authority (NPA) has observed with concern media headlines suggesting that fuel prices have increased by 11% which is false.

A statement released on Tuesday October 18 by the NPA urged the general public to ignore media reports indicating there has been an upward review of fuel prices.

Media reports indicated that fuel prices across the country have been increased to 11 percent by the Chamber of Petroleum Consumers Ghana (COPEC-GH).

Read more: Fuel prices up by 11%

A statement from the Chamber of Petroleum Consumers Ghana (COPECGH) said, “Diesel prices have seen an increase of between 8-11% on current ex pump prices while petrol prices have seen between 3-5% across most BDCs and OMCs though the figures are yet to reflect directly at the various pumps.”

The statement  dated October 17, 2016 and signed by Duncan Amoah, the Chamber’s Executive Secretary attributed the "current prices to sharp increases on the world market prices as the cedi has been relatively stable over the past two weeks.”

See also: Fuel prices expected to go up by 7 to 13%

But the NPA said, "The Authority encourages consumers and the media to check on the price board of retail stations to determine the true prices of fuel on the market and not rely on the data from any group of persons who purport to project fuel prices which always turns out to be poor and inaccurate. Where in doubt, consumers and the media should check with NPA’s website or the bi-weekly publications of retail prices of OMCS published in the Daily Graphic, the Ghanaian Times and the Gazette by the Assembly Press for accurate information on the retails of fuel by OMCs."

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