Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Fuel prices up 9%

  • SOURCE: | qwesa2big
  • oil-rigThe Chamber of Petroleum Consumers of Ghana has criticised Oil Marketing Companies (OMCs) for increasing fuel prices by as much as nine per cent.

    In a statement, COPECGH said pump prices as of “this morning [January 4, 2017] have gone up by over 9% from some of the major oil marketing companies though the majority are yet to do any adjustments”.

    “It is worrying what sort of factors or figures influence such astronomical jumps and increases at a time when all variables indicate around 4% will be sustainable,” the statement signed by Executive Secretary Duncan Amoah indicated.

    The Chamber accused Shell and Total of unreasonable price hikes and charged the two companies to operate and sell fuel based on prices that inure to the interest of Ghanaians.

    The Chamber believes a stable currency will help address the issue of high fuel prices and called on the central bank to institute measures to stop the depreciation of the cedi.

    The Chamber also urged the incoming government to put in some mitigating measures. “We further advise the incoming government to ensure the central role so far played by Ghana Oil Company (GOIL) in Ghana’s deregulation environment is not in any way weakened or compromised as some OMCs have persistently demonstrated they will not hesitate in ripping the people off phenomenally if left to dictate the pace of pricing for Ghanaians,” he noted.



    Source: Ghana/ClassFMonline.com/91.3FM

    Leave a reply

    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar