Tag: NPA
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Fuel transport: ACEP proposes utilization of pipelines
The African Centre for Energy Policy (ACEP) wants the mandate of the Bulk Oil Storage and Transportation Company, BOST to be reviewed to deepen its storage capacity. ACEP explains that this should help in finding a lasting solution to the intermittent challenges associated with fuel transportation in Ghana. The comment also follows the sit down…
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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…
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Fuel prices to hit 5 cedis per litre
Prices of fuel are expected to increase to about 5 cedis per litre for the second pricing window in September [September 16th to 30th]. This is largely due to the depreciation of the cedi. The Institute of Energy Security (IES) who revealed this also adds that other major factors such as the increase in Brent…
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Fuel prices to reach GH¢4.99 cedis per litre
Consumers should be paying an additional 15 pesewas per litre on fuel they purchase at major fuel pumps from today till the end of this month [July]. This will be the case barring any last minute intervention by the National Petroleum Authority (NPA) to cushion consumers from high prices. The institute of Energy Security (IES)…
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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…
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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…
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Ghana lost GH¢1.9bn to illegal fuel trade in 2017 – Report
The Chamber of Bulk Oil Distributors is blaming the persistent issues of illegal fuel trade on what it says is the weak commitment of security agencies in addressing the issue. A latest industry report by the Chamber said the illegal fuel trade cost the country some 1.9 billion cedis in 2017. The report cited three…
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Gov’t officials complicit in illegal trade of petroleum products – Report
Government officials are reportedly complicit in the illegal trade of some petroleum products including premix. A 2017 report on the state of the petroleum sector put together by the Chamber of Bulk Oil Distribution (CBOD) said some government officials were complicit in the illegal trade of petroleum products. According to the report, the government has,…
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Fuel smuggling: Ghana loses $200m in 2 years
Ghana lost 200 million dollars in both 2016 and 2017 as a result ofthe smuggling of fuel into the country, the National Petroleum Authority has revealed. According to the head of research at the authority, Shiela Abiemo, up to 300,000 metric tonnes of fuel used in the country are not recorded and no taxes paid…
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Fuel prices go up by 2% in May – IES
The Institute of Energy Security (IES) has predicted an increase in fuel prices for the first two weeks of May. The Institute tells Citi Business News prices will go up by about 2 percent barring an intervention from the National Petroleum Authority (NPA). “In the first pricing window for May 2018, we are expecting fuel prices to go…