Effective tomorrow May 5, 2021, Ghanaians will heave a sigh of relief as the National Petroleum Authority (NPA) is set to reduce fuel margins by eight pesewas.
This follows a meeting between the Minister of Energy and the stakeholders in the petroleum sector on Monday.
The move by the National Petroleum Authority (NPA) is expected to result in the reduction of fuel prices at the pump
Last week, the National Petroleum Authority (NPA) announced that an increase in the energy sector levy plus the introduction of the new sanitation and pollution levy as well as other margins will commence from 1 May 2021.
But a communique issued by industry players today said, “The 17 pesewas per litre increase in fuel margins previously announced by the NPA have been reduced to nine pesewas per litre effective tomorrow Wednesday 5 May 2021.”
This is expected to result in the reduction of fuel prices at the pump.
Some Oil Marketing Companies (OMCs), today May 4, 2021 adjusted fuel prices to reflect the increased levies announced in the 2021 Budget Statement.
In line with the deregulation of the downstream sector, some major oil marketing companies including Total and Shell increased prices by 11.2%. Petrol is now going for GHC6.13 per litre.