NPA directs 10% reduction on fuel prices

The National Petroleum Authority (NPA) has directed oil marketing companies to reduce fuel prices by 10% effective January 1, 2015.

In a press release issued in Accra December 31, 2014 and signed by Yaro Kasambata, Manager, PR & Consumer Services, the NPA says “Petroleum Prices have been reduced by 10% effective 1st January 2015. We therefore direct Oil Marketing Companies (OMCs) to effect this change at all retail outlets.”

“This decision takes a balance position of continuous effort to reduce outstanding under-recoveries and at the same time reflect falling prices of petroleum product on the world market,” the NPA adds.

By Emmanuel K. Dogbevi