The National Petroleum Authority, in 2015, passed the Petroleum Downstream Full Deregulation Policy, which essentially, gives OMCs the power to set their individual prices based on the costs of key components every fortnight.
Petroleum Minister, Emmanuel Kofi Armah Buah
The Petroleum Minister sounded a strong warning to the OMCs, who, he says are beginning to take advantage of the deregulation policy to abuse customers with exorbitant prices.
“In determining the price, you must be sensitive to the people of Ghana and that the National Petroleum Authority (NPA) should make sure systems are put in place to ensure that the right things are done” he advised.
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“Deregulation exercise was introduced by the government to assist the OMC’s to formulate prices of petroleum products by themselves based on global trend,” he said.
