Tag: COPEC
-
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…
-
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…
-
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…
-
Reduce impact of fuel price hikes on us – GPTRU to gov’t
The Ghana Private Road Transport Union (GPRTU), wants government’s intervention to reduce the impact of fuel price hikes on its members. The Union has however said it does not plan to increase transport fares. [contextly_sidebar id=”yKcSgXX4tBXBWmiLNuqJpqJFFDiNZDAQ”]The Union cannot increase fares in line with an agreement with the Ministry of Road and Transport. Checks by Citi…
-
Over 600,000 litres of BOST’s contaminated fuel ‘evaporates’
The Bulk Oil Storage and Transportation (BOST) is in the news again, this time over the disappearance of about 600,000 litres of its contaminated fuel. A five-member committee set up by the current Managing Director of BOST, George Mensah Oakley to take stock of five million litres of the off-spec product noticed the disappearance. The…
-
Change BOST’s mandate to address fuel price hikes – IES
The Institute of Energy Securities (IES) is calling for a change in the mandate of the Bulk Oil Storage And Transportation (BOST) to help address the constant increase in fuel prices. According to the Executive Secretary of IES, Paa Kwesi Anamoah Sekyi, an analysis of the trend in fuel prices on the international market can better…
-
Fuel prices to drop again this week
The prices of petroleum products are expected to drop by about 2 percent this week. This is the indication from Citi Business News’ checks with players within the petroleum industry following developments on the global market. This will also be the second time in less than a week that fuel prices have been reduced this…
-
Major OMCs reduce fuel prices
Some major Oil Marketing Companies (OMCs) have reduced their prices by 4 pesewas within the first pricing window of June. The reduction comes after a 3 percent increase in prices of fuel in early part of June. Earlier, checks by Citi Business News showed that a litre each of diesel and petrol were selling for…
-
Consumers demand disclosure on petroleum price stabilization levy
Pressure is mounting on government to come clear on the implementation of the price stabilization levy on petroleum products. Industry watchers argue that consumers risk being shortchanged, if the regulators fail to regulate the application of the levy. The comments come in the wake of marginal rise in the prices of petroleum products for the…
-
Energy Ministry rejects calls to scrap special petroleum tax
The Ministry of Energy has rejected calls by the Chamber of Petroleum Consumers Council, to scrap the special petroleum tax on petroleum products. According to the Head of Communications at the Energy Ministry, Nana Damoah, scrapping the special petroleum tax will be detrimental to governments’ ability to raise revenue to tackle the energy sector debts. The…