The National Petroleum Authority (NPA) has reduced the GHp17 per litre increase in fuel margins to GHp9 pesewas per litre.
The price change takes effect from Wednesday, 5 May 2021.
A statement issued on 4 May 2021 indicated: “At a meeting held at the Ministry of Energy earlier today between the Hon. Minister of Energy and the National Petroleum Authority (NPA), the Association of Oil Marketing Companies (AOMCs), Bulk Oil Storage and Transportation Co Ltd (BOST), the Chamber of Petroleum Consumers (COPEC), the Institute for Energy Policies and Research (INSTEPR), it has been agreed as follows; the 17 pesewas per litre increase in fuel margins previously announced by the NPA has been reduced to 9 pesewas per litre effective tomorrow, Wednesday, 5th May 2021”.
The initial increase in fuel margins was supposed to take effect on 1 May 2021.
However, several groups and individuals opposed the directive.
The Institute of Energy Studies (IES), for instance, described the increase in fuel margins as “insensitive and without justification”.
Meanwhile, two driver unions – Concerned Drivers Union and True Drivers Union – are rolling out a 40 per cent increase in transport fares by Monday, 10 May 2021, as a consequence.
The PRO of Concerned Drivers Union, Mr David Agboado, justified the increment in an interview with Valentina Ofori-Afriyie on Class91.3FM’s mid-day news ‘12Live’ on Tuesday, 4 May 2021, saying from January this year, a gallon of petrol sold at GHS19.45 but has risen to GHS27.58.
Also, he said the price of lubricants has risen by 25 per cent.
Additionally, Mr Agboada noted that some charges of the Driver Vehicle Licensing Authority (DVLA) has gone up by 15 per cent while charges at the port, are up by 40 per cent.
Cumulatively, Mr Agboada said the cost of running a transportation business is more than 70 per cent but because they are considerate about the plight of Ghanaians, they will increase fares by 40 per cent.
Meanwhile, the Senior Industrial Relations Officer of the GPRTU, Mr Abass Nurudeen, told the news programme that: “God willing, tomorrow, our leadership will come out with a reasonable percentage”.
According to him, it will take immediate effect.
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