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Duncan Amoah COPECGH calls for fuel reduction

In a press statement Tuesday, COPECGH said fuel prices have remained unchanged  from the previous pricing window figures, at a time when world market prices have seen a slump from $49/barrel to the current $44/barrel region.

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COPECGH has called for a reduction in fuel prices. play

COPECGH has called for a reduction in fuel prices.

The Chamber of Petroleum Consumers of Ghana  (COPECGH ) has called for a reduction in fuel prices ahead of the second pricing window under the price deregulation programme of the National Petroleum Authority for the month of July 2016.

In a press statement Tuesday, COPECGH said fuel prices have remained unchanged  from the previous pricing window figures, at a time when world market prices have seen a slump from $49/barrel to the current $44/barrel region.

The statement noted that: "Petroleum consumers in Ghana expect prices to go down to commensurate movements on the world markets but the various oil marketing companies (OMCS) with the exception of a few who have adjusted downwards by a few points,  a majority of these OMCS seem to have turned a deaf ear to doing the needful as far as reducing pump prices is concerned and are still charging very high prices at the pumps."

According to the statement signed by COPECGH'S Executive Secretary Duncan Amoah, "world market indexes continue to hover around $45/barrel as of this day and time representing over 7% since the last decreases in the early part of the month when the world market indexes were trading around $49/ barrel."

The phenomenon where consumers continue to be shortchanged when the time comes for reductions in pump prices is clearly becoming institutionalized and must be checked forthwith, the statement said.

It said the very same Oil Marketing Companies have left no stone unturned in the past when the opportunity comes for increases but demonstrate reluctance and unwillingness when prices have to go down under the deregulation programme.

"We by this release are demanding immediately for the various oil marketing companies to as a matter of rights and urgency to reduce pump prices to restore the confidence of the Ghanaian people in the deregulation programme," the statement concluded.

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