Tag: BOST Margin
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NPA directs OMCs to increase UPPF and BOST margin on fuel effective Dec. 1
The National Petroleum Authority (NPA) has directed Oil Marketing Companies and other industry players to increase the Unified Petroleum Price Fund (UPPF) and Bost margin on fuel effective December 1. A November 30 memo sent to the Oil Marketing Companies indicated that the firms were all to review the BOST Margin in their Price Build…
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‘BOST Margin will not be taken off anytime soon’ – Energy Minister assures
The Minister of Energy, Dr. Matthew Opoku Prempeh, has assured that government will judiciously use the BOST Margin. The margin is a tax imposed on petroleum products, which is used to cover the maintenance and operating cost of petroleum product depots and expansion programs at the depots. Currently, it stands at nine pesewas per liter…
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BOST justifies recent margin increase in petroleum price buildup
The Bulk Oil Distribution Company, BOST, has justified the recent increment in its margins which are part of the petroleum price buildup at the pumps. The company stated that the margin is key to ensuring it can run its daily operations. The Managing Director of BOST, Edwin Provencal, said although the financial status of his…
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BOST must justify any increase in its margin on petroleum prices – IES
The Institute for Energy Security (IES), says managers of the country’s petroleum sector could have a stronger case to increase the BOST margin on petroleum products only if BOST accounts for its use of the revenue. It follows a withdrawal of the proposed one hundred percent increase in the BOST margin on the prices of…
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Withdraw ‘insensitive’ increase in BOST margins – COPEC to NPA
The Chamber of Petroleum Consumers (COPEC), wants the National Petroleum Authority (NPA), to withdraw an increment it has introduced to some petroleum products. The National Petroleum Authority on Friday directed Oil Marketing Companies (OMCs) and LPG Marketing Companies to apply an upward review of a combined 4 pesewas increase in fuel prices, but COPEC says…