Withdraw directive on new fuel price increase in 24hrs – COPEC to NPA

The Chamber of Petroleum Consumers has given a 24hr ultimatum to the National Petroleum Authority(NPA) to withdraw a leaked memo that will further push upward the prices of fuel in the country or face court.

Early on, the Chamber in a release hinted that per a letter by the National Petroleum Authority (NPA), all Petroleum Service Providers had been notified of an adjustment on “some elements on the already high petroleum price build-up and fuel prices”.

“Our attention has been drawn to a Memo from the National Petroleum Authority ( NPA ) dated Friday 13/12/2019, to all Petroleum Service Providers indicating a decision to further increase some elements on the already high petroleum price build-up and fuel prices.

“Per the directive which is expected to take effect tomorrow, 16/12/2019, all Oil Marketing Companies ( OMCs ) and LPG Marketing Companies ( LPG-MCs ) are to apply an upward review of a combined 4 pesewas increase to Ghanaian pump prices,” the statement said.

It added: “Per the directive, the controversial BOST margin which currently stands at 3p/litre or some cumulative 10,200,000.00 from consumers is to be increased by 100% to a new rate of 6p/ litre or some cumulative 20,400,000.00 from consumers based on current conservative estimates of some 340 million litres of fuel consumed monthly, the UPPF component also gets increased by 4.7% or 1p from the current 21p/litre to 22p/ litre or some 3,420,000.00 cumulative monthly.

“Fuel prices across pumps within the country went up by some 1% just last week following from days of sharp depreciation of the cedi and is believed could go up further in the next window starting tomorrow as the cedi continues to depreciate”.

But the Executive Secretary of COPEC, Duncan Amoah in an interview with sit-in host Akwasi Nsiah on Anopa Kasapa on Kasapa 102.5 FM described the supposed new charges as illegal that must be withdrawn before noon.

He claimed the adjustment is not fair to Ghanaians and unjustifiable saying NPA is just being insensitive.

“NPA will answer in court what powers they’ve arrogated onto themselves to slap these new charges on consumers. By the end of the day if they don’t withdraw we’ll go to court.”

“Why should the NPA begin slapping charges on Ghanaians, without going through the Finance Ministry. No parliamentary approval to that and the parliamentary select committee  also not aware. I have mde the necessary contacts and I can confirm that nothing of that nature has come to them, and MPs from both sides say they have no knowledge of these charges.

“why do we continue paying margins to BOST? he queried, saying “it seems BOST is going to be a liability on Ghanaians.”

Source: kasapafmonline.com