Tag: Stabilisation Levy
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COPEC demands reduction in fuel prices as global crude prices drop again
The Chamber of Petroleum Consumers, COPEC, wants Oil Marketing Companies (OMCs) in the country to reduce their ex-pump prices for consumers to reflect the sustained decline in the global crude oil prices. According to COPEC, consumers could be benefitting from a reduction of between 10%-32% compared to the 2% that consumers have been given over…
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COPEC calls for removal of stabilisation levy on fuel prices
The Chamber of Petroleum Consumers (COPEC) is impressing on the National Petroleum Authority (NPA) and the Ministry of Finance to remove the stabilization levy on prices of petroleum products if they are to protect the interest of consumers. COPEC maintains that the seeming inability to utilize the levy to cushion consumers when global crude oil…