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    Government to securitize $3.3bn in Central Bank loans

    Ghana withdraws $672m back-tax demand from MTN Group

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

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    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $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

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

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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

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OMCs to display fuel prices from today

bycitibusinessnews
June 16, 2015
in Business, Oil And Gas, Top Stories
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Oil Marketing Companies (OMCs) will start announcing their ex-pump prices for petroleum products and display these prices at their retail outlets from today June 16th, 2015.

[contextly_sidebar id=”ux4Yw64KGwylMTSYrk5c7p30ICL0Ikcj”]This is according to a statement issued by the National Petroleum Authority (NPA).

The NPA made known its intentions to no longer be involved in the pricing of petroleum products some weeks back.

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The Authority explained that the move forms part of the full deregulation of the petroleum downstream sector.

The Authority also allayed public fears that the BDCs will dupe Ghanaians with high pricing of petroleum products, insisting that the NPA “will still be a watch dog’.

Since the announcement however, concerns have been raised over this new policy in relation to timing, the pricing and the quality of products which will be sold to consumers.

The Chief Policy Analyst of the Ghana Institute for Public Policy Options (GIPPO), Dr. Charles Wereko-Brobby earlier questioned the legality of the decision by the NPA to leave the pricing of petroleum products to the Bulk Oil Distributors (BDCs).

But the statement signed by the Chief Executive of the NPA, Moses Asaga said the NPA will monitor the application of the Prescribed Petroleum Pricing Formula to ensure that all Petroleum Service Providers apply the formula in the right way and defaulters will be duly sanctioned.

–

By: Raymond Acquah/citifmonline.com/Ghana

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