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OMCs confirm fuel price hikes

  • SOURCE: 3News | Editor
  • Fuel prices have been increased between 3 to 4 percent, according to the Oil Marketing Companies (OMCs).

    The Chairman of the Governing Council of the OMCs, Jonny Blagogie, explained that the increment took effect on Tuesday.

    Mr. Blagogie told host of 3FM’s Sunrise Winston Amoah that “we have made some adjustments between 3% and 4%”.

    He said “the pricing window took effect [on Tuesday]”.

    Meanwhile, Mr Blagogie has revealed that fuel diversions have reduced drastically with the introduction of a tracking system.

    He said the introduction of the tracking system has helped the industry and as such must be encouraged by all.

    His comments were in response to the Ministry for Fisheries and Aquaculture Development announcement of terminating its contract with some OMCs over their involvement in the diversion of premix fuel across the country.

    The Deputy Minister for Fisheries and Aquaculture Development, Francis Kingsley Ato Cudjoe, who confirmed this, said they have terminated the contracts of about 25 OMCs involved in the distribution of premix oil across the country.

    According to the Ministry, the companies were found guilty of diversion hence the decision to stop them from distributing the product.

    But Mr. Blagogie said the “diversions have reduced drastically due to the tracking devises”.

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