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


News in Brief

NPA optimistic of petroleum reduction this month

fuel

Prices of petroleum products could start witnessing significant reduction possibly by the end of this month, according the regulator.

The National Petroleum Authority (NPA) has told Joy Business it will review prices of commodity after settling part of some 4 billion dollars debts owed importers of the product.

NPA told Joy Business the February downward price review would usher in a process whereby of price reviews would correspond to developments on the world market.

The National Petroleum Authority says by February it should have managed to clear part of the huge debts that government currently owes the Bulk Oil Distributors.

Price of Petroleum from June last year has gone down by a little over 60 percent but there has not been a corresponding reduction in prices at the pumps.

The Authority over weekend kept prices of various petroleum produces unchanged — meaning a liter of petrol still sells at 3 Ghana cedis 5 pesewas and  diesel at  2 Ghana cedis  97 pesewas.

Chief Executive of the National Petroleum Authority Moses Asagah told Joy Business in a previous interview that his outfit has not been encouraged to reduce the price of the commodity because  the benefits to consumers through reduction in transport fares and  goods and services have not happened despite the last downward price review.

Source: Myjoyonline

Profile photo of Editor
Follow Us

Editor

Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
Profile photo of Editor
Follow Us

Share this article

Leave a reply

Personality of the Month
  • Prof. Thomas Mba Akabzaa Chief Director of Ministry of Petroleum          …
Follow Us Online
Join the Discussions

Summary: Revenue mobilization from the oil sector for Agricultural production in Ghana, a myth or reality?

Agriculture, once considered the backbone of Ghana’s economy recorded a reduction of its contribution to GDP from 45% in 1992…

Responses Add your response


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
Events Calendar
<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
Twitter Activity Stream
 

Partners We are proud to be associated with:

Skip to toolbar