The National Petroleum Authority (NPA) has hinted that prices of petroleum products could see further reduction by the end of the month February.
According to the Chief Executive Officer of NPA, Moses Asagah, the regulator will review prices after it has paid off some of the 4 billion dollars debts owed to importers.
He disclosed this in an interview with Joy Business stating that by the end of the month the regulator would have managed to clear part of the huge debts that government currently owes the Bulk Oil Distributors.
The downward price review would usher in a process whereby of price reviews would correspond to developments on the world market.
Price of Petroleum products 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.
The National Petroleum Authority has not been able to further 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: Spyghana.com additional material picked from myjoyonline.com
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Title :
Ghana to further reduce fuel prices by end of February
Description : The National Petroleum Authority (NPA) has hinted that prices of petroleum products could see further reduction by the end of the month Feb...
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