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    Deadline for debt exchange program moved to February 7 with new terms

    Government finally makes progress on Debt Exchange Program

    Policy Rate increased by 100 basis points; now at 28%

    Africa loses $88bn annually through illicit financial flows – Akufo-Addo

    AMA to roll out digital revenue collection system in March 2023

    We will not layoff Vodafone staff – Telecel

    Petrol to sell for GHS15 in February – IES

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

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    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

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    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

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    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

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NPA suspends 20% fuel price increment

bycitibusinessnews
June 30, 2014
in Business, Oil And Gas, Top Stories
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Ghanaians will be spared of the imminent increase in fuel prices on July 1, 2014.

This is because the National Petroleum Authority (NPA) has maintained the prices in its latest price review despite earlier indications of a 20% increase.

Officials of the NPA, the Chamber of the Bulk Oil Distribution Companies and other stakeholders met this weekend to deliberate on the price review and other matters.

In an interview with Citi News, the Public Relations Officer of the NPA, Yaro Kasambata explained that there will be no increment at least, for the next two weeks.

He indicated that his outfit is monitoring the situation and the public will be duly informed “if it will warrant an increment in two weeks and if the situation will remain the same for the next two weeks, we will let you know.”

This new development means that Petrol will still go for 2 cedis 73pesewas per litre, Diesel 2 cedis 68 pesewas, Kerosene 2 cedis 61 pesewas, Premix 1 cedi 25 pesewas while Liquefied Petroleum Gas is at 2 cedis 87 pesewas per kilogram.

The last time the prices changed was on April 16 when the price for Diesel fell by about 4percent.

Citi News has gathered an estimated GHC 50 million will be spent in this price subsidy.

Citi News has also learnt that government has so far paid about GHC 450 million out of the GHC 1.8 billion debt owed the Bulk Oil Distribution Companies (BDCs).

An acute fuel shortage hit the country last week following government’s indebtedness to the BDCs.

However, the release of the country’s strategic fuel reserves onto the market is bringing the situation under control.

 

By: Efua Idan Osam/citifmonline.com/Ghana
Follow @osamidan

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