The NPA, Energy Minister Dr. Mattew Opoku Prempeh, the Association of Oil Marketing Companies, the Bulk Oil Storage and Transportation Company, the Chamber of Petroleum Consumers, and the Institute for Energy Policies and Research met to discuss the issue.
The above parties said in a joint statement that the 8 pesewas cut would take effect on Wednesday, May 5, 2021.
“The 17 pesewas per liter increase in fuel margins previously announced by the NPA has been reduced to 9 pesewas per liter, effective from tomorrow Wednesday 5th may, 2021.”
The decrease in gasoline margins, on the other hand, would not prevent this week’s anticipated rise in transportation fares.
The Ghana Private Road Transport Union (GPRTU) has already declared that lorry fares would increase by 10% to 15% on Thursday.
“We should also realised that we are not just looking at fuel prices but other cost components that have been increased recently,” General Secretary of the GPRTU, Godfred Abulbire, said.
Over the last four days, a group of Ghanaians has been venting their frustrations on Twitter in protest of the country’s low governance and high cost of living.
This comes as a result of rising gasoline prices, Liquefied Petroleum Gas (LPG) prices, and a water shortage in some areas of the world.
Some Ghanaians are also reportedly suffering from an unreliable power source, dubbed ‘Dumsor’ locally.
Meanwhile, thanks to the government’s hike in the National Health Insurance Levy, call and data charges have also gone up.
All of this has resulted in a dissatisfied population, with some Ghanaians taking to Twitter to air their grievances.
National Petroleum Authority reduces fuel from 17 pesewas to nine pesewas per litre effective Wednesday 5th May 2021, a communique from the authority and other bodies in the sector have announced.#ElsieOpinari pic.twitter.com/EOB8gcVArg
— Elsie's Opinari (@EOpinari) May 4, 2021