The national Petroleum Authority has reduced the 17 pesewas fuel price margins to 9 pesewas. it means the margins have been reduced by 8 pesewas. It comes after widespread complaints from consumers who criticized the move and lamented the impact the increment is having on their lives.

Many have taken to social media to vent their spleen about the increment and the general hardship in the country.

A statement issued by the NPA said the decision to reduce the margins by 8 pesewas comes on the back of a meeting between Minister of Energy Dr. Matthew Opoku Prempeh and other stakeholders including the NPA, Oil Marketing Companies and the Chamber of Petroleum Consumers. The reduction is to take effect tomorrow.

Below are details of the press statement issued by the NPA and signed by all the participants of the meeting

“At a meeting held at the Ministry of Energy earlier today (May, 4, 2021) between the Hon. Minister fir Energy and the National Petroleum Authority, (NPA), the Association of Oil Marketing Companies (AOMCs), Bulk Oil Storage and Transportation Co Ltd (BOST) the Chamber 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”

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