Fuel prices to remain unchanged – COPEC-GH

Fuel Prices in Ghana

Class FM Online, Mon, Dec 17, 2018

by Classfmonline

The Chamber of Petroleum Consumers-Ghana (COPEC-GH), has predicted that fuel prices will remain stable at the pumps in the second pricing window of December 2018 despite a dip in world market prices by between 6% and 9%.

“Our checks with the various Oil Marketing Companies (OMCs), however, indicate a notice of the full restoration of the Price Stabilisation and Recovery Levy (12p for gasoline and 10p for gasoil) back into the price build-up.

“What this means is that the potential reductions at the pumps will be virtually wiped away by the reintroduction of this levy and is most likely to leave pump prices widely unchanged by these OMCs unless this levy is suspended as it has been done in the past by the National Petroleum Authority”, COPEC-GH noted in a statement signed by its Executive Secretary, Duncan Amoah, on Monday, 17 December 2018.

The group is, therefore, appealing to the Ministry of Finance “to immediately shelve this reintroduction of the said levy at this time when fuel prices across pumps are generally high already as consumers are simply expectant of nothing but reductions at the local pumps to reflect the trends on the international market”.

COPEC-GH said they “consider this move by the Finance Ministry for the reintroduction of the Price Stabilisation and Recovery Levy at this time as unfair, regressive and avoidable”.

To read the full piece from Class FM Online, click here.