Tag: fuel
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Fuel prices may rise marginally in first pricing window of June – IES
Consumers of petroleum products might be paying slightly higher prices for the fuel they purchase at the country’s various pumps as we enter the month of June. According to an analysis by the Institute of Energy Security (IES), the increase can be attributed to the 3.50% rise in price of Brent crude, together with the…
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Government proposes new tax on fuel
The government is proposing a new tax on petroleum products following the 2021 budget. This new tax, the Sanitation and Pollution Levy, is to fund efforts to fund investment in the areas of sanitation and pollution. The levy is for 10 pesewas on the price per litre of petrol/diesel under the Energy Sector Levies Act…
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Fuel prices to go up slightly in 1st pricing window of February – IES
Consumers of petroleum products should be paying slightly higher prices for the fuel they purchase at the country’s various pumps for the next two weeks which is the first pricing window for February, 2021. According to an analysis by the Institute of Energy Security, IES, the increase can be attributed to the 3.9% increase in…
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COPEC calls for stimulus support for public transport operators
The Executive Secretary of the Chamber of Petroleum Consumers, COPEC, Duncan Amoah, says government should consider providing a stimulus package for public transport operators if it seeks to prevent increases in transport fares. Drivers, who ply the Tarkwa-Takoradi route in the Western Region, increased their fares by about thirty percent on Monday June 29, 2020,…
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IES urges BOST to use increased margin to boost its operations
The Institute of Energy Security (IES), which had backed calls by the Bulk Oil Storage and Transportation Company, BOST for an increase in the BOST margin, has welcomed the increment of the BOST Margin in the price build-up of petroleum products. The IES says it expects BOST to use the marginal increase prudently for the…
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Anamua Sakyi writes: The oil market must brace for another price plunge, if…..
The oil and gas industry appeared to have weathered the storm of the 2015 price collapse and had responded with considerable accomplishments. By November 2017, domestic crude oil production reached its highest level in U.S. history. International trade in crude oil and petroleum products was booming with exports of 6.6 million and imports of 10.3…
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Consumers must be measured in demanding fuel price reduction – Senyo Hosi
The Chamber of Bulk Oil Distributors has asked petroleum consumers to be circumspect in their demand for decreases in fuel prices at the pumps. According to the chamber, there are several factors that go into the computation of fuel prices before the ex-pump price is reached. Crude oil prices saw about 30 percent drop on…
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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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Fuel prices to remain stable in September
Prices of fuel are expected to remain relatively stable for the first pricing window in September. This means that for the first two weeks of September, consumers should be paying almost the same amount for fuel they purchase. The Institute of Energy Security (IES) who predicted this tells Citi Business News the stability could be attributed to…
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Inflation increases to 10.6% in February
The inflation for February 2018 reached 10.6 percent. This represents a 0.3 percent rise in the inflation rate compared to the January 2018 inflation of 10.3 percent. Inflation measures the average change over time in the general prices of goods and services purchased by consumers within a particular period of time. The Acting Government Statistician,…