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NPA tells OMCs to reduce fuel prices.

The National Petroleum Authority (NPA) has directed Oil Marketing Companies (OMCs) to reduce fuel prices at the pumps

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Parliament amended the Special Petroleum Tax Act and reduced the tax rate from 17.5% to 15%.

Excise Duty in the Customs and Excise (Petroleum Taxes and Petroleum Related Levies) Act, which had imposed some levies on fuel has been abolished.

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Consequently, the NPA in a statement signed by the Authority’s Technical Director, Jacob Awuah on behalf of the acting Chief Executive, asked the OMCs to reduce ex-pump prices of fuel to reflect the changes.

Below is the letter.

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