Tag: OMCs
-
Fuel prices to remain fairly stable at the pumps – COPEC
Prices of Petrol and Diesel are likely to remain unchanged in the first pricing window of October. Per projections from the Chamber of Petroleum Consumers (COPEC), there could be a one percent increase at the pumps, but Oil Marketing Companies (OMCs) have agreed not to pass on the cost to consumers due to competition. “There…
-
NPA revokes licenses of 30 OMCs
The National Petroleum Authority (NPA) has revoked the licenses of 30 oil marketing companies. This was announced in a statement issued by the NPA. “The National Petroleum Authority wishes to bring to the attention of the general public that the licenses of the underlisted Oil Marketing Companies have been revoked for non-compliance with the rules…
-
17 OMCs did not pay GH¢249.8m duties, taxes between 2022, 2021 – Auditor General
Seventeen Oil Marketing Companies did not pay duties and taxes totaling GH¢249,800,802.28 on 219,995,530 litres of fuel products lifted for the period January 2020 to December 2021. The Auditor General’s report on the audit of Ministries, Departments and Agencies noted this discrepancy from the Integrated Customs Management System (ICUMS). Twenty-eight Oil Marketing Companies failed to…
-
OMC’s likely to repeat infractions in audit report if GRA refuses to ‘bite’ – COPEC
The Chamber of Petroleum Consumers (COPEC), says some Oil Marketing Companies (OMC’s) in the country are likely to default on the payment of taxes on petroleum products lifted from the Tema Oil Refinery (TOR) next year if political interference in the affairs of the Ghana Revenue Authority (GRA) is not halted. The 2020 report of…
-
IES predicts marginal stability in fuel prices for 2nd pricing window in July
The Institute of Energy Security, IES, says fuel prices will be marginally stable for the second pricing window for July 2020 across various pumps in the country. According to them, the stability of the cedi against major currencies and a rise in the prices of Gasoline and Gasoil on the international market, will be the…
-
We’ll keep checking fuel stations to protect consumers – COPEC insists
The Chamber of Petroleum Consumers, COPEC, has justified its decision to check the amount of fuel dispensed to consumers at various fuel stations. The Association of Oil Marketing Companies, OMCs, has criticized the act accusing COPEC of usurping the powers of the National Petroleum Authority, NPA, and the Ghana Standards Authority, GSA, which are mandated…
-
LPG from Ghana Gas more expensive than imported product; COPEC insists
The Chamber of Petroleum Consumers, COPEC, insists that Liquefied Petroleum Gas supplied to Oil Marketing Companies by the Ghana National Gas Company is more expensive than imported LPG. COPEC had earlier called on the Ministry of Energy to address the anomaly which it says had contributed to an increase in the price of LPG in…
-
Fuel prices to remain stable for 2nd pricing window in May – IES
The Institute of Energy Security, IES, says consumers should not expect any major change in the prices of fuel at the various pumps from the second pricing window spanning Saturday, May 16 to Sunday, May 31. The energy think tank attributes this to the marginal rise in fuel prices on the global market as well…
-
Fuel prices to drop again in April pricing window – IES predicts
The Institute of Energy Security (IES), is predicting a further drop in the prices of fuel on the local market between 16 and 24 percent in the first pricing-window for the month of April 2020. This, the Institute attributes to the significant fall in the prices of Brent crude, gasoline and gasoil on the world…
-
Stop interfering in fuel price movement – OMCs tell stakeholders
The Association of Oil Marketing Companies, has advised against what it calls undue interference in the pricing decisions of its members. This follows a statement by the Chief Executive of the National Petroleum Authority, Hassan Tampuli indicating that the Authority was anticipating a 15 percent reduction in the prices of fuel at the pumps, due…