Chamber of Petroleum Consumers Ghana (COPEC GH) have urged the various oil marketing companies ( OMCS ) in the country to as a matter of fairness and public good adjust pump prices downwards to commensurate prevailing developments as far as ex refinery prices indexes are concerned.
According to the Chamber, the first fuel pricing window for the month of November 2016, commenced on the 1st day of the month but pump prices across most oil marketing companies remain unchanged from previously recorded increases though some oil marketing companies have made reductions within the past window.
World oil prices over the past weeks has seen a decline from previous levels of almost $53/barrel to currently levels of around $45.79/barrel representing over 13.6% within the three weeks window.
Checks conducted indicated that local pump prices across most OMCs currently hover above previous general levels of 3.630 for petrol and 3.610 for diesel.
Current pump prices are trading between 3.680-3.745/litre though current world price levels and the expected direct net effects on pump prices seem not being felt by ordinary consumers.
A statement signed by Executive Secretary COPEC GH Duncan Amoah recommended a net reduction of between 3-8% to be fair and reasonable for consumers.
The body also commended the standards committee and the National Petroleum Authority (NPA) for the recent further downward revision of the sulphur levels in fuels imported into the country from the previously announced levels of 500ppm to a much cleaner 50 ppm effective January 2017.
According to Duncan Amoah, a recent press conference by the council of the chamber presented by its Vice Chairman Mr Solomon Kotei was very categorical about the concerns of ordinary Ghanaians about the high sulphur emissions in the atmosphere with its negative health implications.
It also commended the various OMCs who have kept fate with the ordinary consumer throughout the year.
COPEC GH will soon launch the annual “CONSUMER-OMC AWARDS’’ 2016 edition to duly reward deserving OMCs.
By CHRISTIAN KPEESE
