COPEC kick against NPA’s plans to increase fuel prices


The Chamber of Petroleum Consumers-Ghana COPEC has taken on the National Petroleum Authority, NPA following its directive to Oil Marketing Companies, OMCs to increase some charges on the petroleum price build-up.

Per the directive, which takes effect today, all Oil Marketing Companies and LPG Marketing Companies are to apply an upward review of a combined 4 pesewas increase to Ghanaian pump prices.

The Chamber last week raised concerns over an almost one percent increase in fuel price, citing the “recent fast depreciation of the cedi against the dollar from 5.53 cedis to around 5.71 cedis as largely responsible for the hike in the commodity.

In COPEC’s latest statement, its Executive Secretary, Duncan Amoah, said the directive by the NPA to slap additional levies on fuel prices makes complete nonsense of the efforts by the Finance Ministry and the Bank of Ghana to intervene to ensure availability of dollars at a time of petroleum importation.

The statement further reminded the NPA that it has no such authority to impose new taxes, levies, or margins without the appropriate approvals by Parliament, hence the memo must be withdrawn immediately and reconsidered as the Chamber will not hesitate to test the law on this particular issue which will further burden Ghanaians.

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