No Result
View All Result
Saturday, June 25, 2022
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    CBOD calls for a more structured supply of Forex for petroleum products

    Economy grows by 3.3% in Q1 of 2022; slowest since Q3 of 2020

    Ghana International Bank reaches agreement with UK’s FCA over £5.8m fine

    UK watchdog fines Ghana International Bank for poor anti-money laundering systems

    Bank of Namibia Governor pays courtesy call on BoG Governor

    DBG funds will not be used to buy gov’t securities – Deputy CEO assures

    Node 8, Ghana Tech Lab partner on Pathways to the adoption of Digital technologies in e-commerce

    Government is committed to stabilizing cedi – Ofori-Atta

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    CBOD calls for a more structured supply of Forex for petroleum products

    Bank of Namibia Governor pays courtesy call on BoG Governor

    DBG funds will not be used to buy gov’t securities – Deputy CEO assures

    Producer Price Inflation rises again to hit 33.5% in May 2022

    #CitiBusinessFestival: Garment industry needs financial support to thrive – Cyndex CEO

    Ghana tops list of countries with cheapest cost of electricity in West Africa

    #CitiBusinessFestival: Forum on surviving uncertainties of consumer markets comes off today

    A law that will compel banks to lend to Agric sector players being considered – Min. of Agric

    National Unemployment Insurance Scheme training launched

  • TECHNOLOGY

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Take control of financing on the continent – Ofori-Atta to AfDB

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    CBOD calls for a more structured supply of Forex for petroleum products

    Economy grows by 3.3% in Q1 of 2022; slowest since Q3 of 2020

    Ghana International Bank reaches agreement with UK’s FCA over £5.8m fine

    UK watchdog fines Ghana International Bank for poor anti-money laundering systems

    Bank of Namibia Governor pays courtesy call on BoG Governor

    DBG funds will not be used to buy gov’t securities – Deputy CEO assures

    Node 8, Ghana Tech Lab partner on Pathways to the adoption of Digital technologies in e-commerce

    Government is committed to stabilizing cedi – Ofori-Atta

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    CBOD calls for a more structured supply of Forex for petroleum products

    Bank of Namibia Governor pays courtesy call on BoG Governor

    DBG funds will not be used to buy gov’t securities – Deputy CEO assures

    Producer Price Inflation rises again to hit 33.5% in May 2022

    #CitiBusinessFestival: Garment industry needs financial support to thrive – Cyndex CEO

    Ghana tops list of countries with cheapest cost of electricity in West Africa

    #CitiBusinessFestival: Forum on surviving uncertainties of consumer markets comes off today

    A law that will compel banks to lend to Agric sector players being considered – Min. of Agric

    National Unemployment Insurance Scheme training launched

  • TECHNOLOGY

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Take control of financing on the continent – Ofori-Atta to AfDB

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Petroleum consumers protest phase two of price deregulation

bycitibusinessnews
September 2, 2016
in Government, Oil And Gas, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

The Chamber of Petroleum Consumers wants the National Petroleum Authority to step in to prevent the various Oil Marketing Companies (OMCs) from implementing the second phase of the petroleum price deregulation.

According to the Chamber, the development if unresolved, will lead to exploitation as the OMCs will set prices capriciously.

“The same Bulk Distribution Companies [BDCs] could quote different prices in various parts across the country; you could assume that it is not too far that the OMCs will also quote different prices across the country,” the Executive Secretary of the Chamber of Petroleum Consumers, Duncan Amoah observed.

ADVERTISEMENT

The Petroleum Price deregulation, introduced in 2015, is geared at sanitizing the country’s petroleum downstream sector.

The deregulation policy allows Oil Marketing Companies (OMCs) to fix their own prices, in an attempt to introduce competition to the ultimate benefit and protection of the consumer.

Currently, the NPA supervises the ceiling at which the OMCs cannot go beyond in pricing their petroleum products.

But Duncan Amoah argues that allowing the second phase of the deregulation without an intervention by the NPA, will lead to chaos in the petroleum downstream sector.

“That is something that we do not welcome because it is not going to create not only confusion but arbitrariness across the over 3,600 fuel stations across the country,” he stressed.

Meanwhile the Chamber says it is dissatisfied with the decision by the OMCs to increase petroleum prices in the first pricing window in September.

According to the Chamber, the low rate of decrease in prices of petroleum products over the past two pricing windows shouldn’t have prompted an increase when global oil prices are increasing.

The Chamber reports that the prices of diesel and petrol have gone up between 6 and 8 percent and 4 and 6 percent respectively.

–

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

Related Posts

Business

Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

byNerteley Nettey

Vice President, Dr. Mahamudu Bawumia, has reiterated the need for a regional approach to enhance the competitiveness of Africa. According...

Read more

CBOD calls for a more structured supply of Forex for petroleum products

Economy grows by 3.3% in Q1 of 2022; slowest since Q3 of 2020

Ghana International Bank reaches agreement with UK’s FCA over £5.8m fine

UK watchdog fines Ghana International Bank for poor anti-money laundering systems

DBG funds will not be used to buy gov’t securities – Deputy CEO assures

Government is committed to stabilizing cedi – Ofori-Atta

Next Post

Kenya:KRA appeals expert lockout in Bidco Sh1.3bn tax row

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.