Tag: AOMCs
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AOMC blames recent fuel price increase on hikes on global oil market
The Association of Oil Marketing Companies says the recent increase in fuel prices is due to a hike in the global oil market. Fuel prices at the pumps shot up from GHS6.05 to GHS6.23 over the weekend, an increase that many consumers have expressed concerns over. On the other hand, oil prices on the world…
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Fuel monitoring system will help check smuggling – Oil Marketing Companies
The Association of Oil Marketing Companies says the introduction of the National Retail Outlet Fuel Monitoring System is a game-changer in sanitizing the sector. According to the association, this will help rid the system of non-compliant businesses. In an interview with Citi Business News, President of the Association of Oil Marketing Companies, Henry Akwaboah, commended…
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Government must tackle tax evasion to boost revenue – AOMCs
The Association of Oil Marketing Companies believes government may not have to introduce new taxes on petroleum products if steps are taken to address the issue of tax evasion. A recent report by the Chamber of Bulk Oil Distributors (CBOD) revealed that Ghana lost GH₵1.9 billion to tax evasion in 2019. Speaking to Citi Business…
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OMCs to reduce fuel prices from Monday, March 16
The Association of Oil Marketing Companies (AOMCs), has indicated that its members will reduce their fuel prices at the pumps from Monday [March 16, 2020], to reflect market conditions. The CEO of the Association, Kwaku Agyeman Duah, however failed to mention the percentage of reduction consumers should expect. Following a drop in global crude oil…
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OMCs welcome NPA’s Product Marking Scheme to check fuel diversion and adulteration
The Association of Oil Marketing Companies (AOMC), has welcomed the introduction of a new monitoring system for the petroleum sector known as the Petroleum Product Marking Scheme. The system, which also checks adulteration of fuel will help the National Petroleum Authority to check the quality level of fuel in the country. Speaking to Citi Business…
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A review of the fuel prices hike from increases in energy sector levies
Two days ago at the Starbite Shell fuel station in Tema Community 8, I parked my car at one of the filling points to purchase Gasoil (Diesel). I had asked the Attendant at the pump to fill the tank to the tune of Two Hundred Ghana Cedis (Gh¢200), and I was hoping to see the…
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Fuel under-delivery: More OMCs to compensate consumers
More Oil Marketing Companies (OMCs) which had retail outlets which were cited as shortchanging consumers are to replenish the quantities to their respective customers within the coming days. That is the assurance from the Chamber of Petroleum Consumers, COPEC. The move follows series of negotiations and the need to give value for money despite complying…
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OMCs compensate consumers for shortchanging fuel purchases
Stakeholders in the petroleum downstream sector have begun processes to compensate consumers that were shortchanged by some fuel stations in Accra. According to the Chamber of Petroleum Consumers Ghana, (COPEC) which disclosed this to Citi Business News, discussions are ongoing with the Association of Oil Marketing Companies and the managers of the affected fuel stations…
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Fuel under-delivery: Oil Marketing Companies apologise to consumers
The Association of Oil Marketing Companies (AOMCs) has apologised to consumers who may have been affected by under delivery of fuel at various pumps. The Association is however assuring of working closely with its members to ensure the situation does not recur. A statement issued by the AOMCs on the matter further said that the…
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OMCs want tax payment date extended
Oil Marketing Companies (OMCs) are appealing for an extension of the payment date of some taxes. The OMCs contend that the current twenty-one day period for payment of taxes such as the Special Petroleum Tax, is adversely impacting their operations. According to the CEO of the Association of Oil Marketing Companies (AOMCs), Mr. Kwaku Agyeman…