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COPEC fights NPA over alleged plans to increase fuel prices

  • SOURCE: Joy Fm | Joy FM
  • The Chamber of Petroleum Consumers-Ghana (COPEC) has taken on the National Petroleum Authority (NPA) following its directive to Oil Marketing Companies (OMCs) to increase some charges on the petroleum price build-up.

    According to COPEC, the directive will further increase the price of petroleum products at the pumps.

    “This move by the NPA to slap additional levies on fuel prices at this critical point of Christmas makes a complete nonsense of the efforts by the Finance Ministry and the BOG to intervene to ensure availability of dollars at this time for petroleum importation with the view to forestalling any further increases on already neck-breaking fuel prices in the country,” COPEC said in a statement on Sunday.

    The Chamber last week raised concerns over an almost 1% increase in fuel price, citing the “recent fast depreciation of the cedi against the dollar from GH¢5.53 to around GH¢5.710’ as largely responsible for the hike in the commodity.

    In COPEC’s latest release, Executive Secretary, Duncan Amoah, said the directive by the NPA to slap additional levies on fuel prices makes complete nonsense of the efforts by the Finance Ministry and the BOG to intervene to ensure availability of dollars at this time for petroleum importation.

    “We use this opportunity to further remind the NPA it has no such authority to impose new taxes, levies, or margins without the appropriate approvals by parliament and hence this memo must be withdrawn immediately and reconsidered as we will not hesitate to test the law on this particular move to further burden all of us within the country,” the statement said.

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    Joy FM

    Joy FM is a privately owned radio station in Accra, the capital of Ghana and owns https://www.myjoyonline.com/ghana-news/ .The station is owned and run by Multimedia Group Limited.
    Profile photo of Joy FM

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