Copec Bares Teeth At Gov't As Little Pressure Is Being Put On OMCs To Reduce Petrol Prices
The Chamber of Petroleum
Consumers Ghana (COPEC) has expressed disappointment in the leaders of the
country for doing less to force Oil Marketing Companies (OMCs) to reduce the
petrol prices after the government issued a 5% reduction statement of petrol price
yesterday.
The Executive Secretary
of COPEC, Mr. Duncan Amoah speaking in an interview with TOPNEWS 1, lamented
that, even though prices on the world markets over the past 4 windows (periods
for review of petroleum prices) have gone down by over 17.164%, from previous
levels of $50.22/barrel to the current index of $41.60/barrel, the Ghanaian
consumer has yet not enjoyed a corresponding decrease in fuel prices.
He continued that, the
local pumps have till date adjusted by less than 5% cumulative across most OMCs,
yet NPA and the government seem unconcern over this excessive exploitation of
Ghanaians.
He further noted with
regret that contrary to expectations for fairness under deregulation which
dictates prices to reflect current trends and market dynamics, the Ghanaian
downstream and pumps have remained quite insensitive to movement of indexes on
the world market over the past four pricing windows.
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