Fuel price to go down in next pricing window - NPA to Ghanaians

The National Petroleum Authority (NPA), has assured Ghanaians that the prices of petroleum products would go down in the next pricing window.

Chief Executive of NPA, Dr. Mustapha Abdul-Hamid

According to the Head of Pricing at NPA, Abass Ibrahim Tasunti, Ghanaians would enjoy some cushioning come the next pricing window in December.

We have seen the international market and we believe prices would come down by the next pricing window.”

“Ghanaians should thus expect price reduction in the next window,” he said in an interview with 3FM.

He revealed that the next pricing window would be in the first week of December.

Meanwhile, Executive Director for the Institute for Energy Security (IES), Nana Amoasi VII, in an interview with Citi Fm on Tuesday, November 23, said Ghanaians should be buying fuel at GHC6 per litre if government or managers of the economy do the right things.

He noted that even though the depreciation of the cedi against the dollar significantly affects the price of fuel in Ghana, there are a lot more variables that also influence the cost of fuel, which government can do something about.

If we can and we understand fuel prices work, the price for fuel should not sell for more than 6 cedis per litre,” he said.

Explaining further, Nana Amoasi VII said there are about seven taxes and levies imposed on petroleum products in the country, which culminates in GH¢ 2 per litre.

Price of fuel is on the rise in Ghana. Currently, a litre of petrol and diesel are hovering between GH¢6.85 per litre for Goil, GH¢6.99 for others, depending on which Oil Marketing Company (OMC) one is buying from.

There have been concerns among Ghanaians that fuel prices will soon hit GH¢7.00 per litre soon and as such the government must reduce the levies on petroleum prices in the country.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.com.gh